This chapter proposes a framework for designing smart grid systems that considers multiple objectives. A grid is considered a combination of an electric grid and a network of transmission lines, substations, and transformers that delivers electricity from a power plant to consumers. A smart grid renders the grid efficient, provides a friendly environment for active grid participants, and improves the energy efficiency of the underlying power system. In a smart grid, it is desirable to optimize various objectives, such as minimizing the power consumption, maximizing the quality of service, and optimizing a stored energy level for emergency operations. To achieve these objectives, a multiobjective approach is investigated. First, objectives of the smart grid system are formulated as a multiobjective optimization problem (MOP). Multiobjective evolutionary algorithms are then employed to solve the MOP, yielding a set of approximate Pareto optimal solutions and an approximate Pareto front (APF). Based on the preference of a decision maker, the final solution is selected from among the obtained solutions according to the associated performance represented by the APF. A multiobjective approach to smart grid system designs is thus provided.

Chapter Contents:

• 7.1 Introduction
• 7.2 Problem formulation
• 7.2.1 Model of MOP
• 7.2.2 Design examples
• 7.2.2.1 Example 1: electricity cost vs. QoS
• 7.2.2.2 Example 2: overall utility vs. emergency operation
• 7.3 Solution methods
• 7.4 Numerical results
• 7.5 Conclusion
• Acknowledgments
• Bibliography

Inspec keywords: power transformers; substations; power transmission lines; power consumption; energy conservation; smart power grids; Pareto optimisation; evolutionary computation

Other keywords: approximate Pareto front; active grid participants; multiobjective optimization problem; substations; multiobjective evolutionary algorithms; electric grid; energy efficiency; Pareto optimal solutions; MOP; transmission lines; smart grid system design; power consumption; power transformers; quality of service

Subjects: Transformers and reactors; Substations; Optimisation techniques; Power transmission lines and cables; Power system management, operation and economics