A method for minimizing energy cost in a microgrid with hybrid renewable power generation using controlled battery energy storage

This paper presents a methodology to minimize the total cost of buying power from different energy producers including renewable energy generations particularly within the context of a microgrid. The proposed idea is primarily based on the controlled operation of a battery energy storage system (BESS) in the presence of practical system constraints coupled with our proposed cost optimization algorithm. The complex optimization problem with constraints has been solved using the well-known concept of dynamic programming (DP). Twofold benefits of the proposed methodology lie in minimizing the total cost along with the constraint-based efficient operation of the BESS.