Economic dispatch of micro-grid based on improved particle-swarm optimization algorithm

For micro-grid system under isolated and parallel operation mode, two kinds of economic dispatch operation model are established. The objective function of the model is formulated considering time-of-use (TOU) price and the electric energy transaction. The theory of particle swarm optimization (PSO) is proposed, and the key parameters are improved to enhance the performance of the algorithm. An actual case study with typical daily load data from a specific micro-grid is selected to examine the performance of the improved PSO(IPSO) algorithm. The effectiveness of the IPSO is verified through the comparison of optimization results. Under parallel mode, the operation cost of the micro-grid decreases 2.9% by applying IPSO algorithm, comparing to the one of PSO, while the operation cost is only 2.7% from original algorithm under islanding mode.