Multi-objective RIME algorithm-based techno economic analysis for security constraints load dispatch and power flow including uncertainties model of hybrid power systems

Abstract

In recent times, the landscape of power systems has undergone significant evolution, particularly with the integration of diverse renewable energy sources (RESs). This advancement presents an invaluable opportunity to enhance energy efficiency in the modern power grid, primarily by bolstering the role of stochastic RESs. The challenge lies in the optimal power flow (OPF), a multifaceted and non-linear optimization challenge that grows more complex with the inclusion of stochastic RESs that aims to optimize the allocation of power system resources to minimize the operational cost while maintaining the stability and security of the system. Addressing this, the current study introduces an innovative optimization approach, the Multi-Objective RIME (MORIME) algorithm. Drawing inspiration from the physical phenomenon of rime-ice, called the RIME, the MORIME seeks to effectively tackle OPF issues. This algorithm enhances solution accuracy by smartly dividing with nondominated sorting and crowding distance mechanism. The proposed OPF model incorporates three types of RESs: solar photovoltaic, wind and small-scale hydropower units. While uncertainties in wind speed and solar irradiation are managed through Monte Carlo simulations, the small hydro unit is considered a constant power source. The efficacy of the MORIME algorithm is tested on IEEE 30 bus systems and results indicate that the MORIME method identifies the optimal solution for the multi-objective OPF problem while satisfying the power system constraints, thereby proving its effectiveness and superiority over MOWOA, MOGWO, MOALO, MOMRFO and MOAGDE in terms of Hyper Volume (HV) and reciprocal of Pareto Sets Proximity (1/PSP) metrices. The MORIME source code is available at: https://github.com/kanak02/MORIME