Statistical scheduling of economic dispatch and energy reserves of hybrid power systems with high renewable energy penetration

A statistical scheduling approach to economic dispatch and energy reserves is proposed in this paper. The proposed approach focuses on minimizing the overall power operating cost with considerations of renewable energy uncertainty and power system security. In such a system, it is challenging and yet an open question on the scheduling of economic dispatch together with energy reserves, due to renewable energy generation uncertainty, and spatially wide distribution of energy resources. The hybrid power system scheduling is formulated as a convex programming problem to minimize power operating cost, taking considerations of renewable energy generation, power generation-consumption balance and power system security. A genetic algorithm based approach is used for solving the minimization of the power operating cost. The IEEE 24-bus reliability test system (IEEE-RTS), which is commonly used for evaluating the price stability of power system and reliability, is used as the test bench for verifying and evaluating system performance of the proposed scheduling approach.