Development and Planning of a Hybrid Power System based on Advance Optimization Approach

In this paper, a hybrid power system is designed based on a game theory approach consisting of different components like wind turbines, PV panels and batteries in grid-connected mode. Nowadays, as energy problems and atmospheric pollution are increasing rapidly, green energy production is playing a vital contribution. The Game Theory-based approach Nash equilibrium has been used to achieve desired objective functions and to perform analysis to reach towards the goals. Game theoretical models of the noncooperative and cooperative game are considered, and wind turbines, PV panels and batteries are taken as players and the life-cycle income is chosen as payoffs. To obtain Nash equilibriums, a multi-objective particle swarm optimization algorithm has been developed in MATLAB. The sensitivity analysis is performed to validate the stability of Nash equilibriums for the price of electricity and discount rates. In the end, the outcomes of the proposed model are compared with recent research work to check the feasibility and validate the results.