Abstract
A microgrid (MG) is a cluster of small‐scale sources known as micro‐sources, the energy storage devices, and the loads. MGs are promising entities that allow a considerable amount of renewable energy penetration into the system. A stochastic optimisation model is presented in this study to find the optimal size of the distributed energy resources (DERs). The uncertainties are considered with the help of multiple scenarios of random variables viz. wind output, solar output, and load demand data. A particular case of Beta distribution is used to create these variations. A cost‐based, multi‐variable constrained non‐linear objective function is formulated. The considered test MG system is more generalized with solar and wind energy penetration. The results show the effect of operational as well as the planning aspects together under various reliability conditions for an isolated MG. The formulated problem is solved to obtain a global optimal solution using a sequential programming approach and a comparative assessment of results with a hybrid particle swarm optimisation (PSO) approach has also been presented. It is found that the results obtained from the sequential programming approach are better compared to the hybrid PSO approach.
