Uncertainty Quantification in Stochastic Economic Dispatch using Gaussian Process Emulation
Abstract
The increasing penetration of renewable energy resources in power systems, represented as random processes, converts the traditional deterministic economic dispatch problem into a stochastic one. To solve this stochastic economic dispatch, the conventional Monte Carlo method is prohibitively time consuming for medium- and large-scale power systems. To overcome this problem, we propose in this paper a novel Gaussian-process-emulator-based approach to quantify the uncertainty in the stochastic economic dispatch considering wind power penetration. Based on the dimension-reduction results obtained by the Karhunen-Lo\`eve expansion, a Gaussian-process emulator is constructed. This surrogate allows us to evaluate the economic dispatch solver at sampled values with a negligible computational cost while maintaining a desirable accuracy. Simulation results conducted on the IEEE 118-bus system reveal that the proposed method has an excellent performance as compared to the traditional Monte Carlo method.
Cite
@article{arxiv.1909.09266,
title = {Uncertainty Quantification in Stochastic Economic Dispatch using Gaussian Process Emulation},
author = {Zhixiong Hu and Yijun Xu and Mert Korkali and Xiao Chen and Lamine Mili and Charles H. Tong},
journal= {arXiv preprint arXiv:1909.09266},
year = {2019}
}