Optimal operation and control of hybrid power systems with stochastic renewables and FACTS devices: An intelligent multi-objective optimization approach

This paper delves into the increasingly complex domain of Optimal Power Flow (OPF) within modern power systems, enhanced by the integration of unpredictable renewable energy sources. The research originally integrates stochastic photovoltaic and wind energy sources, along with a suite of Flexible AC Transmission System (FACTS) components – including thyristor-controlled series compensators, static VAR compensators, and thyristor-controlled phase shifters. The primary objective is to solve the OPF problem by reducing generation costs while accommodating the variable nature of renewable energy sources and load demands. This study prioritizes the examination of both constant and fluctuating load requirements. The inherent variability of PV and wind energy, along with load demand, is captured through the modelling of probability density functions. This approach enables a more detailed optimization process, incorporating not just the cost of thermal energy generation but also the scheduling costs of renewable sources and associated penalty costs. Moreover, the study examines the strategic placement and sizing of FACTS components, an aspect essential in minimizing the overall cost of power production. Employing both single- and multi-objective optimization algorithms, the research addresses the OPF problem in a modified IEEE-30 bus system through various case studies. The application of the recently developed flow direction algorithm, including its multi-objective variant with an ε-based constraint-handling mechanism to OPF problem is the primary contributions of this work. The results, benchmarked against several advanced metaheuristic algorithms, reveal the proposed algorithm's superior performance. This comprehensive study not only underscores the potential of integrating renewable energy sources into the grid but also highlights the efficacy of intelligent optimization strategies in managing the complexities of modern power systems.