This document discusses planning for smart grids and covers three main topics: economic dispatch which deals with minimizing the total cost of generating electricity; optimal power flow which determines the most economical way to meet demand while satisfying operational constraints; and social welfare maximization which aims to maximize the overall benefit to society from electricity generation and distribution.
This document discusses planning for smart grids and covers three main topics: economic dispatch which deals with minimizing the total cost of generating electricity; optimal power flow which determines the most economical way to meet demand while satisfying operational constraints; and social welfare maximization which aims to maximize the overall benefit to society from electricity generation and distribution.
This document discusses planning for smart grids and covers three main topics: economic dispatch which deals with minimizing the total cost of generating electricity; optimal power flow which determines the most economical way to meet demand while satisfying operational constraints; and social welfare maximization which aims to maximize the overall benefit to society from electricity generation and distribution.