1

Economic Dispatch for a Microgrid Considering

Renewable Energy Cost Functions
Noel Augustine, Student Member, IEEE, Sindhu Suresh, Member, IEEE, Prajakta Moghe and Kashif Sheikh


Abstract--Microgrids are operated by a customer or a group of
customers for having a reliable, clean and economic mode of
power supply to meet their demand. Understanding the
economics of system is a prime factor which really depends on CHP

the cost/kWh of electricity supplied. This paper presents an easy

Community
and simple method for analyzing the dispatch rate of power. An Industrial
~
University

isolated microgrid with solar and wind is considered in this ~

LC
paper. Generation cost functions are modeled with the inclusion Energy
Management
of investment cost and maintenance cost of resources. Economic Server

dispatch problem is solved using the reduced gradient method.

The effects on total generation cost, with the inclusion of wind Electrical

energy and solar energy into a microgrid is studied and found the Thermal
LC
LC
most profitable solution by considering different practical Control and
communication
scenarios. The paper gives a detailed correlation between the cost Signal
Library
function, investment cost, lifetime and the fluctuant energy LC Local Controller

forecasting of wind and solar resources. It also discusses the LC

LC
~ ~
LC
= ~
advantages of including the renewable energy credits for the
solar panel.
Conventional Conventional
Generator G1 Generator G2 Solar wind
Index Terms--Economic Dispatch, Microgrid, Reduced
gradient method, Cost function, Renewable energy, Solar
renewable energy credits (SREC) Fig 1: Isolated Microgrid Configuration

I. INTRODUCTION
M icrogrid is an aggregation of loads and microsources
operating as a single controlled unit providing both
power and heat locally, which also improves the reliability and
security of the system. The majority of the microsources are
power electronic based devices including renewable energy
sources. Because of the diversity of generations with varying
production cost, it is essential to perform an economic
dispatch in the system. Economic dispatch is the short-term
these sources are highly variable in nature and cannot be
considered as dispatchable. In an Economic Dispatch(ED)
formulation these sources are considered as negative loads
with a certain range of accuracy in prediction [1]. In other
words wind and solar energy are consumed whenever it is
available and the remaining load demand is met by the other
generators in the system.
 − (  + 

) =  
  (1)
determination of the optimal output of a number of electricity
generation facilities, to meet the system load, at the lowest
possible cost, while serving power in a robust and reliable
manner. The main objective of this paper is the economic
dispatch study of a microgrid comprising of two intermittent
sources of energy i.e. solar energy and wind energy, a CHP
The economic dispatch of cogeneration is divided into two
categories; the power dispatch and the heat dispatch. In this
paper the power dispatch of cogeneration is only considered
because thermal load and generation are considered as
constant.
ℎ
 = ℎ
 (2)
(Combined Heat and Power) and two conventional generators.
It also covers a cost comparison study and best suggestions for
different combinations of generation sources which can be
used in microgrid for maximum profit.
Renewable sources of energy such as wind and solar are
highly dependent on the weather conditions and geographic
locations. Due to this intermittent nature, power generated by
Noel Augustine, Prajakta Moghe, Kashif Sheikh are with Polytechnic Institute
of NYU, Brooklyn, NY 11201 (e-mail: noelcem@gmail.com)
Sindhu Suresh is with Siemens Corporate Research, Princeton, NJ
978-1-4577-2159-5/12/$31.00 ©2011 IEEE
Spinning reserves are considered for the reliability of the
system. The total spinning reserve requirement is the sum of
the regulation component (1% of hourly load), plus 50% of
1.5 x SLH (single largest hazard), plus an additional regulating
reserve that is set aside specifically to be used if wind
generation is less than that was forecasted in the previous hour
[20].The non-spinning portion of reserves is a function of a
contingency portion and a portion needed to cover the error
associated with over predicting wind generation in the hour
ahead. Like the spinning equivalent, the non-spinning
contingency component equals 50% of 1.5 x SLH. The
 2

additional reserve component for forecast error equals 2 x

TABLE 1
(regulation reserve needed for next hour wind forecast error). LOAD DEMAND FOR 24 HOURS
   = (   ) + () (3) Time Load Time Load
The economic dispatch of the three generators (CHP & (Hours) (MW) (Hours) (MW)
conventional generators) with the new load demand, without 1 140 13 240
any transmission constraints is performed using the Reduced 2 150 14 220
Gradient Search Method. 3 155 15 200
The Reduced Gradient search method is a modified form of 4 160 16 180
the Gradient search method [17]. In this method, one of the 5 165 17 170
generations is always dependent on others and is thus removed 6 170 18 185
from the iterations making it faster. Thus the numbers of 7 175 19 200
variables used are reduced causing less number of iterations 8 180 20 240
for the final solution. 9 210 21 225
10 230 22 190
II. TECHNICAL WORK PREPARATION 11 240 23 160
A microgrid consisting of two conventional generators 12 250 24 145
(synchronous generators), one combined heat and power
(CHP), wind generator, solar generator, electric load and TABLE 2
COST COEFFICIENTS IN THE COST FUNCTION
thermal load is considered. The micro grid is assumed in the
CHP Unit 1 Unit 2
islanded mode and thus there is no selling or buying of electric γ ($/h) 0.024 0.029 0.021
power from the utility to this system. The 24 hours load β ($/h) 21 20.16 20.4
demand profile which includes the industrial and residential α ($/h) 1530 992 600
loads is assumed as shown in the Table 1. The total generation
of the micro grid is assumed to be higher than the peak A. Wind generation forecast and cost function:
demand and includes enough spinning reserve for reliability. The wind data required for carrying out the study was
One of the fastest economic dispatch algorithms – reduced obtained from the software known as HOMER – The Micro
gradient method is chosen to obtain the minimized generation power Optimization Model as shown in Fig.2. It gives the
cost of the whole system. The cost function for the CHP and variation of the wind speed for 24hours of a day in the east
two conventional generators is assumed as a second order coast of USA, and it changes with location.
polynomial function as shown in (4) and given the assumed
cost coefficients in Table 2.
 ( ) =  +   +   (4)
According to the renewable energy law [2], the wind and
solar power generation must be always adopted when it is
generating, since there is no generation cost for them
compared to the fossil fuel cost and thus it is ignored in the
optimization process. But their cost functions are used while
computing the total generation cost. Also they are considered
as non-dispatchable DGs and they are intermittent sources too.
The program computes the economic dispatching among the
CHP and the two conventional generators only. The economic
dispatch of thermal generation is not required since it is
assumed to be equal to thermal load. Fig 2. The scaled data of wind speed against time for one day from HOMER.
The economic dispatching is performed using the Matlab
program and the total generation costs for the four scenarios The power generated by the wind turbines was calculated
mentioned below for the microgrid are compared. Four using (5)
scenarios considered are: P = ½ (  ∗  ∗ 3) (5)
1. All five generators are included in the system Where,
2. All generators except solar & wind energy is the air density which is assumed to be 1 kg/m3,
A is the windswept area,
3. All generators except solar energy
u is the velocity of the wind.
4. All generators considering renewable energy credits for The power generation for 24 hours duration of a day is as
solar energy shown in Fig.3

This is to find the best combination of generations with

least or moderate cost that can be incorporated in a microgrid.
We can also compute the profit or loss of the entire topology
while integrating renewable sources into the system.

Fig 3. The power generation of wind turbines calculated using the equation.
The cost function of wind generation is as in (6) [7] and it
considers the investment cost of the equipments and also the
operation & maintenance (O&M) costs of the generated
energy, but it does not consider the capital cost of land since it
is a community based microgrid where land is owned by them.
( ) =    + ! "  (6)
#
 = [$%($&#)'*]
Where,
 = Wind generation (kW)
a = annuitization coefficient (dimensionless)
r = interest rate (taken as 0.09 for base case)
, = Investment lifetime (taken as N = 20 years)
  = Investment costs, per unit installed power ($/kW)
! " = O & M costs, per unit generated energy ($/kW)
Equation (6) can be used to calculate the total generating
cost of the wind energy considering the depreciation of all the
equipments for generation. In this system, it is assumed that
the investment costs per unit installed power (  ) and O & M
costs per unit generated energy (! " ) is approximately equal to
$1400 and 1.6cents per kW respectively [7].
B. Solar generation forecast and cost function:
The solar data required for carrying out the study was also
obtained from the software HOMER – The Micro power
Optimization Model. The solar data of locations in the U.S.A.
which the HOMER software utilizes is obtained from a
particular data set called TMY2 and takes clearness index and
other factors into consideration. In this case we have
considered the solar data of a location in the east coast of
USA, as shown in Fig.4.
Fig 4.The scaled data of radiation against time for one day from HOMER.
3
The solar data obtained is then converted to power
generation of the PV panels [9] using (7) with logical
assumptions and plotted against the time as shown in Fig.5.
Et3.24*MPV(10.0041* (Tt8)) * St (7)
Where,
Et is the power output,
MPV is the capacity of each PV panel times the number of PV
panels,
Tt is the temperature,
St is the radiation data at time i.
Fig 5. The power generation of PV panels calculated using the equation.
The cost function of solar generation is as in (8)[7]and it
considers the investment cost of the equipments and also the
operation & maintenance (O&M) costs of the generated
energy, but it does not consider the capital cost of land since it
is a community based microgrid where land is owned by them.
(- ) =   - + ! " - (8)
#
= '*
[$%($&#) ]
Where,
- = Solar generation (kW)
a = annuitization coefficient (dimensionless)
r = interest rate (taken as 0.09 for base case)
, = Investment lifetime (taken as N = 20 years)
  = Investment costs, per unit installed power ($/kW)
! " = O & M costs, per unit generated energy ($/kW)
Equation (8) can be used to calculate the total generating
cost of the solar energy considering the depreciation of all the
equipments for generation. In this system, it is assumed that
the investment costs per unit installed power (  ) and O & M
costs per unit generated energy (! " ) is approximately equal to
$5000 and 1.6cents per kW respectively [19]. The solar is very
expensive when compared to wind energy, but can be included
in a system with the aid of solar renewable energy credits
considered later in this paper.
After conducting the economic dispatch among the three
dispatchable generations, the generation cost is obtained from
the cost functions corresponding to its generated values. The
wind and solar power generation cost is also found using their
respective cost functions in (6) and (8), based on the
generation. Thus the total cost of generation is calculated.
C. Program flowchart:
A detailed flowchart showing the flow of operation of the
 4

entire system is shown in the Fig.8. The program is formulated with the incorporation of wind energy which has a moderate
in Matlab with the help of optimization tool box. This investment cost (no fuel cost), makes the system better than
procedure is a global solution and depending upon the location the two cases discussed above. Thus it is found that
and capacity, the results will vary. incorporation of wind generation into the system is better than
a system with only conventional generators.
D. Reduced Gradient Method Algorithm:
Case 4: All generators considering renewable energy credits
1. A system of three generators is considered for the economic for solar energy
dispatch problem. In this scenario, we consider renewable energy credits
2. Assume the initial power generated by the three generators which include the state tax rebate and federal tax subsidy on
as P1, P2 and P3. the solar panels, which reduces the investment cost making
3. One of the generator, P3 in our case, is always dependent solar profitable. Thus if we consider these credits, then
and expressed as
incorporation of solar will make the system profitable.
P3=PLOAD-P1-P2
The investment for the solar panels can be calculated as:
Where PLOAD is the load demand
4. The total cost to be minimized is ;< = ; − (; ∗ >) − (; ∗ (1 − >) ∗ ) (9)
COST = F1(P1) + F2(P2) + F3(PLOAD-P1-P2) Where Ip’ = New reduced investment cost ($/kW)
Where F1,F2 and F3 are the cost functions of the three Ip = Original investment cost ($/kW)
generators respectively. St = State tax rebate (%)
0(1234) Ft = Federal tax subsidy (%)
05$ For a Californian to buy the solar panels, they would
5. Find ∇COST = /0(1234) 6
receive a state tax rebate of 20% of the cost, and a federal tax
05 subsidy of 40% of the remainder. For our present micro grid
6. X1 = X0- ∇COST*α system, by comparing total cost with the case-2, we found that
Where X1 is the power generated after each iteration and is
the solar can be made profitable, if and only if the value of St
P1
given by X1= 7 : = 35% & Ft = 50%, and thus making it the critical point at
P2
X0 is the initial generated power (assumed) and given by which solar becomes profitable. Considering these values of St
P1_initial & Ft, we obtain $1630/kW as the new reduced investment cost
X0 = 7 :
P2_initial for solar panels instead of the original cost of $5000/kW. Thus
α is the experimental value of the acceleration factor. the total generation cost can be reduced even if solar is
7. When the incremental cost at generator 3 is equal to that included in the system and the generation cost comparisons
at generator 1 and 2, the above gradient becomes zero i.e. are clearly shown in the Fig.6 & Fig.7.
the iterations are completed. A more detailed comparison results from Matlab program
8. If the gradient is not equal to zero, repeat step 6. for the four different scenarios of a day is shown in Appendix
9. End and the profitability is summarized in Table 3.

III. RESULTS AND INFERENCES

TABLE 3
The simulated system contains a CHP, two conventional SUMMARY TABLE SHOWING PROFITABILITY
generators, wind and solar generations. The output of the Scenarios Profitability
Matlab program with different combinations of generations is All Gens without credits for 4
shown in the tables given in the appendix. solar
Case 1: All five generators are included in the system All Gens except solar & wind 2
This scenario shows that the total generation cost is higher All Gens except solar 1.5
than the other three cases discussed below, since the All Gens with credits for solar 1
investment cost for solar is higher. But with the inclusion of Scale from 1 to 5, where 1-best and 5-low score
some renewable energy credits, solar cost can be reduced and
thus it can be incorporated into the system without loss. In this
case, no renewable energy credits for solar are included which
makes it non-profitable and the investment cost is assumed to
be approximately $5000/kW.
Case 2: All generators except solar & wind energy
In this case, we are not using any intermittent sources,
instead using conventional generators and CHP. This does not
give any profit or loss for the micro grid. However, it makes
the system highly reliable because of the absence of wind and
solar, but more expensive than the system with wind energy
included (Case 3).
Case 3: All generators except solar energy
Since solar generation is exempted and wind energy is
included, the total generation cost is reduced. This is because,
 5

Fig.6. Cost comparison for the first half of the day

Fig.7 Cost comparison for the second half of the day

IV. CONCLUSION
This paper presents an overview of solving the economic
dispatch problem in a microgrid consisting of renewable
energy. From the system study, it can be concluded that the
incorporation of solar energy with renewable energy credits
and also the wind energy into the microgrid will reduce the
total generation cost of the system. Thus if the federal and
state government provide enough credits and rebates for the
installation of solar panels, then a microgrid with both solar
and wind is profitable when compared with the system without
renewable sources. The paper also generalizes the dependence
of cost function of wind and solar energy with all the affected
factors considering its intermittency. This relation aids to
compute the total generation cost of the microgrid. The future
scope includes the stability analysis of the microgrid under
different scenarios.

Fig.8. Program flowchart

 6

V. APPENDIX
Table A. Economic Dispatch with wind & solar generation Table C. Economic Dispatch with wind & without solar generation
Total Total
Solar Wind Solar Wind
Time CHP Gen 1 Gen 2 Gen Time CHP Gen 1 Gen 2 Gen
Gen Gen Gen Gen
(Hrs) (MW) (MW) (MW) cost (Hrs) (MW) (MW) (MW) cost
(MW) (MW) (MW) (MW)
($/hr) ($/hr)
1 5.38 9.54 123.39 0.00 1.70 6297.09 1 5.38 9.54 123.39 0 1.70 6297.09
2 8.06 12.22 121.22 0.00 8.50 6473.77 2 8.06 12.22 121.22 0 8.50 6473.77
3 11.61 15.77 118.35 0.00 9.27 6564.89 3 11.61 15.77 118.35 0 9.27 6564.89
4 9.61 13.77 119.97 0.00 16.66 6650.21 4 9.61 13.77 119.97 0 16.66 6650.21
5 21.73 25.89 110.15 0.00 7.22 6759.40 5 21.73 25.89 110.15 0 7.22 6759.40
6 27.85 32.01 105.20 0.03 4.91 6866.64 6 27.88 32.04 105.18 0 4.91 6865.37
7 18.62 22.78 112.67 6.27 14.66 7209.32 7 23.89 28.05 108.41 0 14.66 6940.38
8 3.83 7.99 124.65 16.98 26.56 7761.62 8 18.09 22.25 113.10 0 26.56 7013.48
9 27.85 32.01 105.20 24.05 20.88 8648.51 9 48.06 52.22 88.84 0 20.88 7661.65
10 34.34 38.50 99.95 39.37 17.85 9712.91 10 52.17 55.39 104.59 0 17.85 8163.81
11 73.82 77.98 67.99 7.41 12.80 8721.92 11 80.05 84.21 62.94 0 12.80 8450.02
12 80.47 84.63 62.60 3.65 18.65 8793.72 12 83.54 87.70 60.12 0 18.65 8662.05
13 62.08 68.27 63.37 31.94 14.35 9653.81 13 78.75 82.91 64.00 0 14.35 8436.67
14 42.78 46.94 93.11 26.81 10.35 9013.44 14 53.51 57.14 99.00 0 10.35 7967.03
15 41.79 45.95 93.91 10.08 8.26 7904.86 15 63.14 69.66 58.94 0 8.26 7507.66
16 24.43 28.59 107.97 5.30 13.71 7268.33 16 28.89 33.05 104.36 0 13.71 7043.97
17 21.07 25.23 110.69 9.57 3.44 7276.08 17 29.11 33.27 104.18 0 3.44 6869.66
18 41.09 45.25 94.48 2.31 1.87 7288.47 18 43.03 47.19 92.91 0 1.87 7194.93
19 59.10 64.41 75.74 0.00 0.75 7543.59 19 59.10 64.41 75.74 0 0.75 7543.59
20 90.66 94.82 54.36 0.00 0.17 8567.35 20 90.66 94.82 54.36 0 0.17 8567.35
21 78.07 82.23 64.54 0.00 0.15 8167.21 21 78.07 82.23 64.54 0 0.15 8167.21
22 48.54 52.70 88.45 0.00 0.31 7314.42 22 48.54 52.70 88.45 0 0.31 7314.42
23 22.70 26.86 109.36 0.00 1.07 6674.43 23 22.70 26.86 109.36 0 1.07 6674.43
24 10.51 14.67 119.23 0.00 0.58 6388.52 24 10.51 14.67 119.23 0 0.58 6388.52

Table B. Economic Dispatch without wind & solar generation Table D. Economic Dispatch with wind & solar generation considering
Total renewable energy credits
Solar Wind
Time CHP Gen 1 Gen 2 Gen Total
Gen Gen Solar Wind
(Hrs) (MW) (MW) (MW) cost Time CHP Gen 1 Gen 2 Gen
(MW) (MW) Gen Gen
($/hr) (Hrs) (MW) (MW) (MW) cost
(MW) (MW)
1 6.80 10.96 122.24 0 0 6297.81 ($/hr)
2 15.20 19.36 115.44 0 0 6482.67 1 5.38 9.54 123.39 0.00 1.70 6297.09
3 19.40 23.56 112.04 0 0 6578.62 2 8.06 12.22 121.22 0.00 8.50 6473.77
4 23.60 27.76 108.64 0 0 6676.91 3 11.61 15.77 118.35 0.00 9.27 6564.89
5 27.80 31.96 105.24 0 0 6777.56 4 9.61 13.77 119.97 0.00 16.66 6650.21
6 32.00 36.16 101.84 0 0 6880.55 5 21.73 25.89 110.15 0.00 7.22 6759.40
7 36.20 40.36 98.44 0 0 6985.90 6 27.85 32.01 105.20 0.03 4.91 6865.37
8 40.40 44.56 95.04 0 0 7093.59 7 18.62 22.78 112.67 6.27 14.66 6945.10
9 53.32 56.89 99.78 0 0 7794.89 8 3.83 7.99 124.65 16.98 26.56 7045.83
10 82.40 86.56 61.04 0 0 8299.65 9 27.85 32.01 105.20 24.05 20.88 7634.84
11 90.80 94.96 54.24 0 0 8569.04 10 34.34 38.50 99.95 39.37 17.85 8053.95
12 99.20 103.36 47.44 0 0 8847.83 11 73.82 77.98 67.99 7.41 12.80 8409.44
13 90.80 94.96 54.24 0 0 8569.04 12 80.47 84.63 62.60 3.65 18.65 8640.02
14 74.00 78.16 67.84 0 0 8039.65 13 62.08 68.27 63.37 31.94 14.35 8307.97
15 58.70 63.88 77.42 0 0 7547.98 14 42.78 46.94 93.11 26.81 10.35 7883.54
16 40.40 44.56 95.04 0 0 7093.59 15 41.79 45.95 93.91 10.08 8.26 7479.96
17 32.00 36.16 101.84 0 0 6880.55 16 24.43 28.59 107.97 5.30 13.71 7044.76
18 44.60 48.76 91.64 0 0 7203.63 17 21.07 25.23 110.69 9.57 3.44 6872.77
19 58.70 63.88 77.42 0 0 7547.98 18 41.09 45.25 94.48 2.31 1.87 7191.30
20 90.80 94.96 54.24 0 0 8569.04 19 59.10 64.41 75.74 0.00 0.75 7543.59
21 78.20 82.36 64.44 0 0 8168.48 20 90.66 94.82 54.36 0.00 0.17 8567.35
22 48.80 52.96 88.24 0 0 7316.01 21 78.07 82.23 64.54 0.00 0.15 8167.21
23 23.60 27.76 108.64 0 0 6676.91 22 48.54 52.70 88.45 0.00 0.31 7314.42
24 11.00 15.16 118.84 0 0 6389.07 23 22.70 26.86 109.36 0.00 1.07 6674.43
24 10.51 14.67 119.23 0.00 0.58 6388.52
 7

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