Probabilistic Optimization Techniques in Smart Power System

Uncertainties are the most significant challenges in smart power system, necessitating use of precise techniques to deal with them properly. Such problems could be effectively solved using a probabilistic optimization strategy. It is further divided into stochastic, robust, distributionally and chance-constrained optimizations. The topics systems covered this review paper. In order account for uncertainty processes, stochastic essential. Robust advanced approach optimize system under uncertainty, which deterministic, set-based model used instead one. computational complexity programming conservativeness robust both reduced by optimization.Chance constrained algorithms help solving constraints problems, where finite probability get violated. This paper discusses microgrid home energy management, demand-side unit commitment, integration, economic dispatch as examples applications these systems. Probabilistic mathematical models different scenarios, deterministic approaches have been literature, also presented. Future research directions variety domains