Impact Assessment of Solar PV in Deregulated Power Market

Solar photovoltaics are simple devices that provide an elegant method of harnessing the sun's energy. PV devices can directly convert the incident solar radiation into electricity. This work is formulated to present the impact of solar PV in a competitive power market by considering the objective function of profit maximization. Deregulation is about removing control over the prices with the introduction of market players in the sector. The deregulated power market is because the changes essential for the betterment of the power sector depend on the prevailing conditions in the power sector of respective countries. The work has depicted the impact generated by solar PVs in the deregulated energy market to find out the optimal minimum generation cost, minimum losses in transmission of power in power systems using MATPOWER software. Modified IEEE 14-bus system has been considered to check the effectiveness of the presented method.