An integrated configuration optimization and economic evaluation approach for microgrids

Microgrids have attracted global attentions in the recent years. Configuration and evaluation are the main contents of a microgrid at early stage. In this paper, an integrated approach for configuration optimization and economic evaluation for microgrids is proposed. The configuration is formulated as an optimization problem, which takes the annual cost as its objective and considers the constraints from capacity, power balance and operation protection. Moreover, the economic factors, as government subsidy, discount rate and unit cost of power sources are investigated in the economic evaluation of microgrid. Two spots in Wuhan are used to establish microgrid scenarios to test the validity of the integrated configuration and evaluation approach. The convincing results of the microgrid scenarios will be presented.