Selection of the best dispatch strategy considering techno-economic and system stability analysis with optimal sizing

In this paper, optimized hybrid off-grid renewable energy systems (HRES) have been designed for two divisional locations in Dhaka and Khulna in Bangladesh. An analysis is conducted using five different load dispatch strategies to find the best dispatch strategy for a cost-effective and technically feasible Islanded hybrid microgrid that will support the growing power demand. A comparative analysis among the various dispatch strategies is also presented to find out the best and worst dispatch strategies for the proposed HRESs. The two HRESs consist of solar PV, a backup diesel generator, wind turbine, load demand of 23.31 kW, and a battery storage system. HOMER predictive strategy, Generator Order, Load Following, Combined Dispatch, and Cycle Charging dispatch strategy has been adopted for evaluation. The two HRESs are optimized for CO2 emission, Levelized Cost of Energy, and Net Present Cost minimization along with a feasible and stable voltage-frequency response on basis of the five dispatch techniques. The techno-economic analysis of the two HRESs is conducted using the HOMER Pro software platform. For the power system response analysis, MATLAB/Simulink is used. This study provides a complete guideline for determining the optimum component sizing ensuring optimum operation and possible costing estimation for the optimized performance of the two HRESs for different dispatch techniques. Also, a comparative study among the designed HRESs, other hybrid systems, and conventional power plants is conducted to prove the significance of this research work.