Optimal Distribution Network Planning with CVaR Model Considering Renewable Energy Integration

In consideration that the true generation characteristic of wind power is difficult to be described because of the limitation the existed forecasting method. As a result, the wind power integrated distribution network faces great challenge in economically and securely planning. Therefore, in this paper, the conditional value-at-risk (CVaR) model has been developed for distribution network planning from the perspective of risk aversion, considering the wind power forecasting error. In CVaR, the optimization objective including the cost of wind power investment, network loss and voltage deviation is formulated under several kinds of practical operation constrains. Then, in order to obtain the optimal solution, the Levy flight based particle swarm optimization (PSO-LF) algorithm is developed for the proposed model. The feasibility and effectiveness of CVaR model have been comprehensively evaluated on a modified IEEE 33-bus system for distribution network planning with uncertain wind power penetration.