Multiobjective robust fuzzy stochastic approach for sustainable smart grid design

Smart grids are an effective solution for the rapidly increasing power demand. This study attempts to solve the sustainable smart grid design problem, where three indispensable sustainability dimensions, economy, environment, and society, are considered simultaneously. A multiobjective robust fuzzy stochastic programming approach is presented to minimize the economic, environmental and social costs of the network under uncertain scenarios and parameters. The objective is to determine the optimal number, location and capacity of renewable distributed generation units as well as the dynamic electricity pricing and energy resources scheduling in a sustainable smart grid. The proposed method is applied to a Vietnamese power company in the residential sector. The results indicate that demand response with dynamic pricing reduces environmental and social costs by 3%. Moreover, the proposed model efficiently tackles both uncertainties in scenarios and parameters with a total cost lower than other models.