Economic load dispatch problems in smart grid: a review

Abstract

Many researchers prove that one of the fundamental problems in the power system is economic dispatch problem. Since working on smart grid at lowest cost is a big challenge. Future work on this area is to solve these problems. Under this paper we are going to show detail description of progress on economic dispatch, centralized and decentralized algorithm, demand side management, classical and modern techniques by looking for the way and key factors on their progress. Many countries work on demand side management and using different alternatives since related to optimization of generation and system load cost models. With this scope of research in various ways of economic dispatch problem on the smart grid has been investigated. Economic Dispatch and the Unit Commitment are essential problems to be solved in order to supply high-quality electric power to customers in when working in a smart grid context some extra consideration must be taken into account. The high penetration of renewable energy sources, the large amount of energy that can be stored and different methods used in economic dispatch algorithm that are conventional and modern techniques, comparison between them these all are what we are going to show in our review. Customer’s requirement for this time is quality power and minimum cost so for future work we recommend to work with stability since the most journals that we are used as reference was done to minimize cost only we should look for stability also looking for operation and maintenance cost as factor is also necessary.