A two-stage stochastic optimization based-on monte carlo simulation for maximizing the profitability of a smart microgrid

In this paper, a two-stage stochastic model for optimizing the profit of a smart microgrid is proposed in which the uncertainty of loads, electricity market price and renewable generation are modeled using developing stochastic scenarios with Monte Carlo simulation method. Also, in order to reduce solving time of optimization problem the number of stochastic scenarios is reduced by Kantorovich distance method.