Distributed Bisection Method for Economic Power Dispatch in Smart Grid

In this paper, we present a fully distributed bisection algorithm for the economic dispatch problem (EDP) in a smart grid scenario, with the goal to minimize the aggregated cost of a network of generators, which cooperatively furnish a given amount of power within their individual capacity constraints. Our distributed algorithm adopts the method of bisection, and is based on a consensus-like iterative method, with no need for a central decision maker or a leader node. Under strong connectivity conditions and allowance for local communications, we show that the iterative solution converges to the globally optimal solution. Furthermore, two stopping criteria are presented for the practical implementation of the proposed algorithm, for which sign consensus is defined. Finally, numerical simulations based on the IEEE 14-bus and 118-bus systems are given to illustrate the performance of the algorithm.