Balancing the demand and supply of a power grid system via reliability modeling and maintenance optimization

In this research, we modeled the reliability of a power grid with consideration of the power sharing among different regions. By extending the universal generating function technique, a reliability evaluation algorithm for a general power grid was suggested. A joint optimization model was formulated to determine the optimal redundancy and maintenance strategy in order to minimize the economic cost while meeting the reliability requirement. Numerical examples were used to illustrate the effects of different grid configurations and maintenance strategies on the reliability and cost of the power grid. It was shown that the system operation cost could be minimized by determining the optimal allocation of generators and the optimal maintenance strategy. (C) 2020 Elsevier Ltd. All rights reserved.