Special Issue: Contemporary Strategies for Microgrid Operation & ControlMicrogrid Economic Viability Assessment: An introduction to MG-REVALUE

There are many proven advantages to microgrid deployment, however, associated initial investment costs are major obstacles to widespread and rapid deployment of this technology. To ensure that microgrid benefits will surpass the initial investment cost in a given time period, detailed cost-benefit analyses are required. This paper discusses this problem and introduces Microgrid Robust Economic Viability Assessment under Lasting Uncertainty Enclosure (MG-REVALUE) tool as an advanced robust optimization tool for microgrid economic viability studies.