A Strategy for Multi-Objective Energy Optimization in Smart Grid Considering Renewable Energy and Batteries Energy Storage System

Multi-objective energy optimization is pivotal for reliable and secure power system operation. However, multi-objective energy optimization is challenging due to interdependent and conflicting objectives. Thus, a multi-objective optimization model is needed to cater to conflicting objectives. On this note, a multi-objective optimization model is developed, where a non-dominated genetic sorting algorithm is employed to optimize objectives pollution emission, operation cost, and loss of load expectation (LOLE) considering renewable energy sources (RES). RES, like wind and solar, are intermittent and uncertain, which are modelled using a beta probability density function (PDF). The developed method's effectiveness and applicability are analyzed by implementing it on the 30-bus system, and the results are compared for two cases. Findings reveal that the developed multi-objective optimization model minimizes operation cost, pollution emission, and LOLE by 59%, 7%, and 2.67%, respectively, compared to existing models.