Optimization of fuel cost and transmission loss in power dispatch with renewable energy and energy storage

Minimizations of fuel cost and transmission loss during power dispatch are the main objectives of the problem described in this paper. The dispatch problem decides the amount of generation to be allocated to each generating unit including renewable sources so that the total fuel cost and transmission losses are minimized without violating the system constraints. This paper considers the dispatch problem for hybrid power system consists of thermal units, solar, wind and the storage. Consistent optimum results can be obtained by extracting maximum renewable energy during the available period and using it for both available and unavailable periods with the aid of energy storage. This paper illustrates the optimization of fuel cost and transmission losses with renewable storage using MATLAB simulations.