Frontiers in Energy

, Volume 11, Issue 2, pp 197–209 | Cite as

Review of stochastic optimization methods for smart grid

  • S. Surender Reddy
  • Vuddanti Sandeep
  • Chan-Mook Jung
Review Article

Abstract

This paper presents various approaches used by researchers for handling the uncertainties involved in renewable energy sources, load demands, etc. It gives an idea about stochastic programming (SP) and discusses the formulations given by different researchers for objective functions such as cost, loss, generation expansion, and voltage/V control with various conventional and advanced methods. Besides, it gives a brief idea about SP and its applications and discusses different variants of SP such as recourse model, chance constrained programming, sample average approximation, and risk aversion. Moreover, it includes the application of these variants in various power systems. Furthermore, it also includes the general mathematical form of expression for these variants and discusses the mathematical description of the problem and modeling of the system. This review of different optimization techniques will be helpful for smart grid development including renewable energy resources (RERs).

Keywords

renewable energy sources stochastic optimization smart grid uncertainty optimal power flow (OPF) 

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Copyright information

© Higher Education Press and Springer-Verlag Berlin Heidelberg 2017

Authors and Affiliations

  • S. Surender Reddy
    • 1
  • Vuddanti Sandeep
    • 2
  • Chan-Mook Jung
    • 3
  1. 1.Department of Railroad and Electrical EngineeringWoosong UniversityWoosongRepublic of Korea
  2. 2.School of EngineeringCentral University of KarnatakaKarnatakaIndia
  3. 3.Department of Railroad and Civil EngineeringWoosong UniversityWoosongRepublic of Korea

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