Economic Sustainability Maximization Considering Demand Side Bidding in a PV Integrated Restructured Electricity Market
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Electricity bidding plays a key role in a restructured electricity market. This paper proposed an optimal method to minimize the system generation cost of active power produced by thermal generators in a photovoltaic (PV) integrated deregulated power market with considering demand side bidding. The proposed problem has been solved in two folds: initially PV power generator is optimally placed in the system based on the objective of minimum fuel cost and minimum system losses. Secondly one load bus has been selected for demand side bidding based on the demand of the buses and system requirements. To solve and validate this problem, Whale Optimization Algorithm (WOA) has been used in this work. To validate and compare the obtained results, Elephant Herding Optimization (EHO) Algorithm and Artificial Bee Colony (ABC) algorithm are used in this paper. The usefulness of these techniques is applied in IEEE 30 bus system for the analysis purpose.
KeywordsDeregulation Demand side bidding Whale Optimization Algorithm Photovoltaic power generation
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