A Mathematical Technique for Optimal Design of Hybrid Power Systems Considering Demand-side Management

This paper presents a mathematical technique for optimal design and load shifting of hybrid power systems (HPSs). Based on a generic HPS superstructure, the formulation considers various power losses from conversion, transfer and storage, and explores the possibilities of load shifting. Both sequential and simultaneous design approaches are presented to determine the minimum electricity cost and the minimum total annual cost, respectively, as well as the required energy storage capacity. An illustrative case study is solved to demonstrate the application of the proposed methodology.