Overview of mathematical methods for energy management optimization in smart grids

Electricity demand increases every year and there is a need to improve the existing power grid. Smart Grid concept was developed by Institutes and research agencies to address this need. This new concept can be generally considered as an intelligent power grid system that implements distributed energy. Gathering, coordinating operation and control of multiple distributed energy resources, energy storages, loads and set of users pose a great challenge. Effective management of smart grid will have a benefit of reduced cost of energy, reduced stress on the electric energy infrastructure, and improved energy efficiency. This paper reviews the research and studies on mathematical models used to optimize energy management in smart grid. The paper compares and discusses various fitness functions used in the literature. Genetic Algorithm is explored and brief overviews of other methods are discussed.