A real time pricing strategy for remote micro-grid with economic emission dispatch and stochastic renewable energy sources

Micro-grid is a complete energy solution for remote areas facing energy crisis however, energy cost from fuel based sources in a micro-grid is higher than conventional sources. So price-signal based control strategy for the benefit of utility and customers by virtue of renewable integration is analysed. Renewable energy has become less costiler than fuel based sources in a micro-grid. Stochastic power generated from wind turbine (WT) and photo voltaic (PV) along with economic generation from micro-turbine (MT) and fuel cell (FC) is optimised. Anti-predatory particle swarm optimisation (APSO) for non-linear dynamic economic emission dispatch of micro-grid for 24 h with and without renewable energy sources (RESs) is analysed. APSO method with RESs is identified to give better fuel-cost-minimum. Power-to-cost index is proposed as a simple real time pricing (RTP) strategy. The strategy is identified to have the potential to bring down power demand and peak reduction followed by additional reduction in emission and fuel cost in any micro-grid.