Risk-managed economic dispatch in hybrid hydrothermal-wind-solar systems: a novel multi-objective optimization approach
This study presents a novel multi-objective optimization framework for risk-managed economic dispatch in hybrid hydrothermal-wind-solar systems (HTWPS). To address the uncertainties in renewable energy generation, a quantitative regression approach combined with a multivariate Gaussian distribution...
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| Format: | Article |
| Language: | English |
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Elsevier
2025-08-01
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| Series: | International Journal of Electrical Power & Energy Systems |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S0142061525003047 |
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| author | Zhe Wang Tao Sun Na Liu |
| author_facet | Zhe Wang Tao Sun Na Liu |
| author_sort | Zhe Wang |
| collection | DOAJ |
| description | This study presents a novel multi-objective optimization framework for risk-managed economic dispatch in hybrid hydrothermal-wind-solar systems (HTWPS). To address the uncertainties in renewable energy generation, a quantitative regression approach combined with a multivariate Gaussian distribution is used for scenario generation. The model integrates spinning reserve (SR) constraints and a synchronous peak shaving strategy to enhance system stability and cost efficiency. A Multi-Objective Artificial Rabbits Optimization (MOARO) algorithm, incorporating Pareto criteria and fuzzy theory, is applied to optimize dispatch decisions while balancing cost and risk. Simulation results demonstrate that increasing the comprehensive utilization flow (DCUF) reduces operational risks and costs in the dry season by up to 25.4%, while in the wet season, risk remains stable due to SR constraints. Implementing thermal spinning reserves (HTSR) reduces operational risks by up to 79.1% but increases costs by 22.4%, highlighting a key trade-off. The synchronous peak shaving strategy lowers power abandonment risks by up to 75%. These findings emphasize the importance of integrating risk management in hybrid energy systems to improve operational reliability and economic performance. |
| format | Article |
| id | doaj-art-e76ce9e7b4d24075b2a2f533f9b2fc91 |
| institution | OA Journals |
| issn | 0142-0615 |
| language | English |
| publishDate | 2025-08-01 |
| publisher | Elsevier |
| record_format | Article |
| series | International Journal of Electrical Power & Energy Systems |
| spelling | doaj-art-e76ce9e7b4d24075b2a2f533f9b2fc912025-08-20T02:36:06ZengElsevierInternational Journal of Electrical Power & Energy Systems0142-06152025-08-0116911075310.1016/j.ijepes.2025.110753Risk-managed economic dispatch in hybrid hydrothermal-wind-solar systems: a novel multi-objective optimization approachZhe Wang0Tao Sun1Na Liu2National Center for Nanoscience and Technology. Beijing 100190, China; Beijing GrandTrend International Economic and Technical Consulting Co., Ltd., Beijing 100012, ChinaTianjin University Research Institute of Architectural Design and Urban Planning Co., Ltd., Tianjin 300072, ChinaBeijing GrandTrend International Economic and Technical Consulting Co., Ltd., Beijing 100012, China; Corresponding author.This study presents a novel multi-objective optimization framework for risk-managed economic dispatch in hybrid hydrothermal-wind-solar systems (HTWPS). To address the uncertainties in renewable energy generation, a quantitative regression approach combined with a multivariate Gaussian distribution is used for scenario generation. The model integrates spinning reserve (SR) constraints and a synchronous peak shaving strategy to enhance system stability and cost efficiency. A Multi-Objective Artificial Rabbits Optimization (MOARO) algorithm, incorporating Pareto criteria and fuzzy theory, is applied to optimize dispatch decisions while balancing cost and risk. Simulation results demonstrate that increasing the comprehensive utilization flow (DCUF) reduces operational risks and costs in the dry season by up to 25.4%, while in the wet season, risk remains stable due to SR constraints. Implementing thermal spinning reserves (HTSR) reduces operational risks by up to 79.1% but increases costs by 22.4%, highlighting a key trade-off. The synchronous peak shaving strategy lowers power abandonment risks by up to 75%. These findings emphasize the importance of integrating risk management in hybrid energy systems to improve operational reliability and economic performance.http://www.sciencedirect.com/science/article/pii/S0142061525003047Hybrid energy systemsRisk managementEconomic distributionMulti-objective optimizationHydrothermal-wind-solar systems |
| spellingShingle | Zhe Wang Tao Sun Na Liu Risk-managed economic dispatch in hybrid hydrothermal-wind-solar systems: a novel multi-objective optimization approach International Journal of Electrical Power & Energy Systems Hybrid energy systems Risk management Economic distribution Multi-objective optimization Hydrothermal-wind-solar systems |
| title | Risk-managed economic dispatch in hybrid hydrothermal-wind-solar systems: a novel multi-objective optimization approach |
| title_full | Risk-managed economic dispatch in hybrid hydrothermal-wind-solar systems: a novel multi-objective optimization approach |
| title_fullStr | Risk-managed economic dispatch in hybrid hydrothermal-wind-solar systems: a novel multi-objective optimization approach |
| title_full_unstemmed | Risk-managed economic dispatch in hybrid hydrothermal-wind-solar systems: a novel multi-objective optimization approach |
| title_short | Risk-managed economic dispatch in hybrid hydrothermal-wind-solar systems: a novel multi-objective optimization approach |
| title_sort | risk managed economic dispatch in hybrid hydrothermal wind solar systems a novel multi objective optimization approach |
| topic | Hybrid energy systems Risk management Economic distribution Multi-objective optimization Hydrothermal-wind-solar systems |
| url | http://www.sciencedirect.com/science/article/pii/S0142061525003047 |
| work_keys_str_mv | AT zhewang riskmanagedeconomicdispatchinhybridhydrothermalwindsolarsystemsanovelmultiobjectiveoptimizationapproach AT taosun riskmanagedeconomicdispatchinhybridhydrothermalwindsolarsystemsanovelmultiobjectiveoptimizationapproach AT naliu riskmanagedeconomicdispatchinhybridhydrothermalwindsolarsystemsanovelmultiobjectiveoptimizationapproach |