Risk-based scheduling of multi-energy microgrids with Power-to-X technology under a multi-objective framework

Abstract

Power to X (P2X) technologies coupled with energy storage systems serve as a bridge among the various energy vectors to enhance the flexibility of Multi-Energy Microgrids (MEMs). The current research examines a multi- objective approach for scheduling a MEM integrated with P2X conversion technology. The main goal is to minimize three conflicting objectives: operational cost, risk, and CO2 emissions. The suggested risk-based scheduling is solved through the augmented epsilon-constraint method to address the economic/environmental aspects of the problem. Two risk management tools of Conditional Value at Risk (CVaR) and a robust approach are proposed to deal with uncertainties in the MEM's scheduling. Besides, the proposed MEM benefits from P2X converters, various storage technologies, demand response resources, renewable resources, and energy market bidding. This enables the MEM to transform the power into other carriers of thermal, hydrogen, and synthetic gas to meet various energy demands, effectively. The simulation results show that adopting a risk-neutral unconservative risk strategy results in an expected operating cost of $7,400 and carbon emission of 58 tCO2. In this situation, a 21 % reduction in CVaR due to the risk-averse strategy leads to a 24 % increase in operation cost and a 20 % reduction in emission. Moreover, adopting the robust approach to regulation service prices increases the operational cost compared with the corresponding risk-averse unconservative strategy.