A Comparative Study on System Profit Maximization of a Renewable Combined Deregulated Power System

Electrical energy plays a key role in the development of social as well economic front. The power sector has historically been owned and operated by state agencies due to its tremendous importance. It restructured over time, market is being deregulated. In terms consumer prices, efficiency, environmental implications, both regulated deregulated electricity markets offer advantages disadvantages. Policy-based techniques are typically used address costs fossil-fuel resources boost viability renewable sources. Renewables can be integrated into through combination regulatory market-based measures extend system’s stability which deployed this paper. As need for expanded dramatically last few decades, particularly developing countries, amount greenhouse gas emissions climbed rapidly, have fuel driving forces behind initiatives use sources more effectively. Despite apparent benefits energy, it significant downsides, such generation optimization methods applied consistency, because most supplies climate-dependent, necessitating complicated design, planning, control methods. There numerous strategies system. With increased storage technology grown importance, these devices capture generated renewables during off-peak demand hours put back grid peak periods. Using stored instead adding based on fossil help minimize emissions. an interest better utilizing available system capacity implementing FACTS maximize benefit result, effective device placement provides novel capabilities steady-state flow regulation dynamic control. This study reviews several aspects systems clear picture recent research developments subject. main objectives maximization profit, welfare, minimization cost loss optimal controllers.