Demand response economic dispatch method for microgrid based on the time-of-use rate
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Abstract:
To achieve a win-win situation on both generation side and customer side, a multi-objective economic dispatch model of islanded microgrid based on demand response is proposed. The model introduces demand response under the time-of-use rate mechanism. The consumers' profit objectives consisting of consumption utility function and consumption fee function and the generation cost objectives are both constructed. Based on the above objectives, the minimization of generation cost is achieved by adjusting the incremental cost of each micro-turbine to the same, while the consumers' profit is maximized by adjusting the optimal participant amount of flexible load. To testify the feasibility of the proposed model, a simulation platform is established to evaluate the performance of the model with demand response. The results show that the proposed economic dispatch model can maximize the consumers' profit while minimizing the generation cost. The consumers' profit with DR(demand response) is improved by 104% under time-of-use rate mechanism.
