A Multi-Objective Optimization Model for Microgrid Optimal Operation with Cooperative Game Theory Approach

The optimal operation of microgrid (MG) is an important problem to attain significant benefits, which mainly improves the cost reduction in energy operation and also lowers the emission of environmental pollutants. The integration of renewable energy sources is one of the key factors to achieve significant microgrid operational benefits. A multi-objective MG optimal operation problem is formulated in this paper with different equality and inequality constraints to obtain significant economic and environmental benefits. The primary objective of the proposed model is to simultaneously minimization of the daily MG operation cost and environmental pollution under islanded mode and grid-connected mode. The proposed multi-objective problem in this paper is converted into a single-objective problem by employing a cooperative game theory approach and a mixed integer nonlinear programming (MINLP) solver is used to solve the final single-optimization problem. The effectiveness of the proposed model is evaluated by investigating multiple scenarios and case studies. The comprehensive analysis of the simulation results indicates that the proposed multi-objective MG optimization model by using the cooperative game theory approach can be able to provide significant economic and environmental benefits simultaneously.