Impact of market prices on energy scheduling of microgrid operating with renewable energy sources and storage

In this paper, mathematical modeling of the grid-connected microgrid system having intermittent renewable energy resources along with the diesel generators operating to fulfill the system dynamic electrical and thermal demand has been presented. The generation intermittency of the solar and wind renewable distributed generators and the dynamic load variations can be taken care of by installing the quick response based optimal sized energy storage system as the main component of the microgrid system. The charging and discharging operations of the battery storage system depend upon the operating constraint and the market prices for the power exchange between the microgrid and the grid. Minimum charging and discharging constraints in the battery-operated microgrid systems increase the life span of the storage system working as an essential part of the system having intermittent resources. The simulation results show the impact of the market prices on the state of charge of the storage system and the optimal operation of a microgrid system operating under various constraints. (C) 2020 Elsevier Ltd. All rights reserved. Selection and peer-review under responsibility of the scientific committee of the International Conference on Aspects of Materials Science and Engineering.