A lucid approach to pricing in a micro grid and consumer benefit smart grid

Abstract

Increased power demand from industries and residential consumers made utilities to think about alternate energy sources. Importance of smart grid technologies indicated better control on power system. Further, power imbalance become a predominant problem. Intermittent renewable energy sources (RESs) and dynamic load demand caused inevitable deficit scenarios. Further, deregulation of power system resulted in surplus power availability with utility. Hence to monitor, control and upgrade power system into a smart grid become a necessity. newlineHighlights of the research work include, a novel real time pricing to achieve most of the smart grid objectives, an overview of renewable energy integration in Indian power sector with reduced emission, economy and mitigation of power losses with distributed generation (DG) in distribution side of power system. newlineSmart grid technologies are capable to monitor and manage power system efficiently, improving electrical and financial performance by altering system states and maintaining system constraints within its operation limits. Operating power system with quality and its economic objectives can be efficiently achieved by smart grid technologies. Power quality in terms of emission reduction and interrupt-free operation must be focused. India still face deficit scenario in various parts in addition to power scarcity in some areas. Hence, micro-grid possibilities and integration of RESs scaled to Indian generation with reduced emission are focused. Further, cost benefit by renewable energy integration in an economic emission dispatch (EED) problem for summer and winter season is analysed newline newline