A Performance Metric for Co-optimization of Day-Ahead Dispatch and Reserves in Electric Microgrids

We present a new performance metric for co-optimization of dispatch and reserves in microgrids. A metric based on NERC criteria is used for each asset to quantity its reliability-based value. A system level metric is obtained through the individual performance metrics, dispatched capacity, and net dispatchable capacity available as reserve. Simulations are performed on a notional microgrid with a dispatchable and a non-dispatchable distributed energy resource to demonstrate the calculation of the metric.