An approach to utilize Distributed Generation (DG) to minimize the total load shedding by analyzing the power system in Transactive energy framework is proposed. An algorithm to optimize power system in forward and spot markets to maximize an electric utility’s profit by optimizing purchase of power from DG is developed. The proposed algorithm is a multi-objective optimization with the main objective to maximize a utility’s profit by minimizing overall cost of production, load shedding, and purchase of power from distributed generators. This work also proposes a method to price power in forward and spot markets using existing LMP techniques. Transactive accounting has been performed to quantify the consumer payments in both markets. The algorithm is tested in two test systems; a 6-bus system and modified IEEE 14-bus system. The results show that by investing in DG, utility benefits from profit increase, load shedding reduction, and transmission line loading improvement.
| Identifer | oai:union.ndltd.org:uno.edu/oai:scholarworks.uno.edu:td-3248 |
| Date | 13 May 2016 |
| Creators | Balachandran, Nandu |
| Publisher | ScholarWorks@UNO |
| Source Sets | University of New Orleans |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | University of New Orleans Theses and Dissertations |
Page generated in 0.0022 seconds