Design of optimal energy efficient and reliable smart microgrid

Abstract

A smart grid extends the conventional electrical grid by adding a digital framework, renewable resources, wireless sensor networks, and advanced measuring units (like Phasor measurement units, Smart meters, Internet of things, etc.). The dwindling energy resources, including conventional sources like fossil fuels, will deplete in the future, and the urge to move to natural resources motivates the usage of microgrids. Smart grid adds the desire to get financial benefits in reducing the cost of electricity and has enhanced the usage of smart microgrids. Many researchers are entering the smart microgrids field to advance its technologies. The grid is mostly operated at its maximum capabilities and in most locations which causes the deteriorated lifespan of the grid. The increased usage of electricity for domestic and industrial purposes and augmentation of communications networks in Local area networks, Metropolitan area networks, Wide area networks, and Neighborhood area networks stimulates the need for microgrids. A smart grid protocol needs to be designed to manage demand and supply as per customer needs using renewable energy. Markov process and Poisson s method are used for two-way communication and reducing the average cost of energy production at the main grid. The electricity generation at the consumer end from renewable sources is stored in batteries and fed back to the main grid. The average cost of power production is calculated, and appropriate action is suggested to increase the efficiency of the entire system. The performance indices considered in this research are energy efficient, optimal cost, reliable, and the most available smart microgrids. The reliability objective of the modern grid becomes more challenging due to aggravated grid congestion, numerous and larger transfers over long distances, increasing volatility, and reduced reliability margins. The massive utilization of distributed resources accentuates the complexity and volatility of the grid. The smart grid embraces PV panels, converters,