Optimizing Economic Dispatch and Energy Management in Micro Grids with Electric Transport Integration

Abstract

The surge in electricity demand has necessitated exploring alternative power generation sources, moving beyond the traditional reliance on fossil fuels. This transition is driven by dwindling fossil fuel reserves, energy shortages, and environmental issues, emphasizing the importance of electric transport as the future of transportation. Electric transport serves as distributed storage units and loads when connected to the grid, but their increasing use introduces new challenges for power quality and grid constancy. The fluctuating behavior of renewable energy and volatile load demands require effective energy storage solutions within the smart grid. Grid able vehicles offer a viable option as storage devices. The proposed model, tested using the Mother Optimization Algorithm (MOA), demonstrates substantial reductions in fuel costs, achieving a significant cost reduction of 19%.