Optimizing the component mix of a mini-utility

A mini-utility is a grid-connected or stand-alone system that extends utility services through small, modular, hybrid systems. Key components might include a photovoltaic system, a diesel generator, and a storage technology. A method of optimizing the component mix of a mini-utility is described. A central part of the method is a novel storage dispatch strategy. This method offers three primary methodological benefits. First, and most importantly, the method gives an exact answer to the storage dispatch problem with a minimal amount of computational effort. Second, the method can be used for any type of generation and storage technologies. Third, the method makes, it possible to examine all economically feasible system configurations rigorously