Solving Economic Load Dispatch Problem with Integrated Renewable Resources: A Comparative Analysis on Optimization Algorithms

Abstract

The classical Economic Load Dispatch (ELD) problem deals with the exploration of solution to the optimal active power allocation from all the sources to minimize the total operating cost, while satisfying the load demand. In this work, an analytical evaluation is undergone with diverse standard optimization algorithms on providing solution to ELD problem under multi-objectives like total wind generation cost, total cost function of thermal units and the penalty cost function. In addition, the optimization algorithms play a major role in optimizing power generation of thermal power plant within the maximal and the minimal bounds, and the selection of wind turbine in wind power system to meet the power demands with utmost efficiency. Finally, an evaluation is done with diverse optimization on IEEE-14 and IEEE-30 bus system to explore solutions to the aforementioned optimal selections.