Stochastic resource planning strategy to improve the efficiency of microgrid operation

The intermittence nature of distributed renewable generation presents significant challenges for microgrid operation. Advanced demand side management, with innovative structures and technologies, provides feasible solutions for this issue. This paper presents a stochastic resource planning strategy for microgrid to optimally manage its resources on both generation and demand sides to improve the system operation efficiency. An internal pricing strategy is proposed to integrate with traditional operation scheduling model considering both operational and economic constraints. To address the uncertainties in the renewable generation forecasting and customers´ price responsive patterns, the stochastic model is formulated and corresponding solution method is provided. A sample microgrid is utilized to illustrate and compare the effectiveness of the proposed models.