Economic Optimization Model of Islanded Microgrid Considering the Benefit of Energy Storage Charge and Discharge

This paper presents a novel optimization model to address the real-time economic dispatch problem of islanded microgrid. The model fully considers the energy storage system(ESS)'s acquisition cost in the past period and operational benefit in the future period, to determine the appropriate energy dispatch of an ESS unit in the current period. In addition, Each unit in the microgrid(MG) maximizes its own operational benefits only need to exchange expected electricity price and transaction power with neighboring unit. After optimization, the neighboring units participated in economic dispatch can achieve consistency of electricity price and transaction power at the same time. In order to obtain the optimal solution, the alternating direction multiplier method (ADMM) is introduced to solve this problem. Finally, the operational results of the distributed economic optimization dispatch of the island MG are analyzed under the three different weather conditions, and simulation results demonstrate the effectiveness of the proposed model.