Stochastic Modeling of Micro-Grid Operation Problem in Standalone Mode Considering Risk Index

In this paper, the operation problem of a micro-grid in standalone mode considering uncertainty is modeled. For this purpose, the problem is modeled as a stochastic mathematical problem based on a set of probabilistic scenarios for the consideration of the uncertainties of load and renewable power sources. To model uncertainties and reducing difference between the operation cost in the best and worst scenario, the value at risk (CVaR) as an appropriate tool for risk management is used. Some of the production capacity of micro-grid is considered in the mathematical model as a reserve in order to cover the shortage of micro-grid production due to uncertainty, equipment failure and no distribution network connection. Finally, the results of micro-grid operation have been analyzed and a sensitivity analysis is presented to observe the relationship between costs of the micro-grid with some parameters of the mathematical model.