Economic Environmental Dispatch of Smart Hybrid Energy Systems Accounting for Loss-of-Load Probability

To address the low-carbon smart community energy system, the grid-connected or islanded modes of the smart hybrid energy systems (SHES) are presented. The economic/environmental dispatch optimization algorithm (EEDOA) is employed to determine the SHES system operation at lower total operating cost and/or greater reduction of carbon emissions. Accounting for the loss-of-load probability (LOLP), the operating reserve is incorporated into the EEDOA to ensure the reliable electricity supply and cope with uncertainties in the predictions of load demand and PV power. The hour-ahead and day-ahead forecast strategies are developed from Level 1 to Level 3 which are validated to improve the prediction accuracy. By using the hour-ahead forecast-based EEDOA, the monthly operating costs and CO2-eq emissions of SHES with two modes are reduced by 1.8%~6.1% and 1.9%~ 5.1%, respectively. From the economic aspect, the grid-connected mode of SHES is superior to the islanded mode of SHES since the monthly operating cost of the grid-connected mode is lower than the islanded mode by 72.6%