Stochastic versus Robust Optimization of wind-hydro power plant's operational strategy
Javaid MS., Saeed N., Al-Awami AT., Khalid Z.
© 2016 IEEE. In this paper, wind-hydro plant's operational strategy is optimized for obtaining maximum profit. Energy is stored in a water reservoir, which is used accordingly, to maximize the operational profit. An hourly wind forecast of next 48-hours, is used to determine the usage of each component of power plant. Forecasted wind power is stochastic in nature, so two techniques, stochastic programing and Robust Optimization, (RO) are used to determine the operation strategy of wind hydro power plant. It is presented that RO does not require the definition of scenarios or distribution functions for the uncertain data. Moreover, it incorporates uncertainties efficiently without significantly increasing the problem size. Profits estimated by RO are compared with the average profits predicted by Monte Carlo simulations (MCS). Operating schedules obtained from both techniques are also analyzed for further evaluation of each technique in this domain.