TY - GEN
T1 - Optimal Sizing of Grid-tied Residential Microgrids under Real-Time Pricing
AU - Khezri, Rahmat
AU - Mahmoudi, Amin
AU - Khooban, Mohammad Hassan
AU - Ertugrul, Nesimi
PY - 2021
Y1 - 2021
N2 - This paper investigates the optimal capacity of distributed renewable generators and battery storage system for a grid-tied residential microgrid under real-time pricing (RTP). Three system configurations by combination of solar photovoltaic (PV), wind turbine (WT) and battery energy storage system (BESS) are optimally sized by minimizing microgrid's cost of electricity (COE) as the objective function. The residential microgrid imports the electricity from the main grid under an RTP program and exports the electricity under a flat rate. Real annual data set of electricity consumption of a residential microgrid, RTP electricity rate, wind speed, temperature and insolation in South Australia is incorporated in the optimization model. An uncertainty analysis based on the stochastic behaviour of RTP rates and load consumption is provided to validate the optimization results. It is found that, under an RTP rate, the PV-WT-BESS microgrid is the cost-effective system with 26% and 2% COE reductions compared to WT-BESS and PV-BESS systems, respectively.
AB - This paper investigates the optimal capacity of distributed renewable generators and battery storage system for a grid-tied residential microgrid under real-time pricing (RTP). Three system configurations by combination of solar photovoltaic (PV), wind turbine (WT) and battery energy storage system (BESS) are optimally sized by minimizing microgrid's cost of electricity (COE) as the objective function. The residential microgrid imports the electricity from the main grid under an RTP program and exports the electricity under a flat rate. Real annual data set of electricity consumption of a residential microgrid, RTP electricity rate, wind speed, temperature and insolation in South Australia is incorporated in the optimization model. An uncertainty analysis based on the stochastic behaviour of RTP rates and load consumption is provided to validate the optimization results. It is found that, under an RTP rate, the PV-WT-BESS microgrid is the cost-effective system with 26% and 2% COE reductions compared to WT-BESS and PV-BESS systems, respectively.
KW - battery energy storage system
KW - cost of electricity
KW - optimal sizing
KW - real-time pricing
KW - solar photovoltaic
KW - wind turbine
UR - http://www.scopus.com/inward/record.url?scp=85123381484&partnerID=8YFLogxK
U2 - 10.1109/ECCE47101.2021.9595828
DO - 10.1109/ECCE47101.2021.9595828
M3 - Conference contribution
AN - SCOPUS:85123381484
T3 - 2021 IEEE Energy Conversion Congress and Exposition, ECCE 2021 - Proceedings
SP - 771
EP - 776
BT - 2021 IEEE Energy Conversion Congress and Exposition, ECCE 2021 - Proceedings
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 13th IEEE Energy Conversion Congress and Exposition, ECCE 2021
Y2 - 10 October 2021 through 14 October 2021
ER -
