A low‐carbon economic dispatch model for electricity market with wind power based on improved ant‐lion optimisation algorithm

Abstract

Abstract Introducing carbon trading into electricity market can convert carbon dioxide into schedulable resources with economic value. However, the randomness of wind power generation puts forward higher requirements for electricity market transactions. Therefore, the carbon trading market is introduced into the wind power market, and a new form of low‐carbon economic dispatch model is developed. First, the economic dispatch goal of wind power is be considered. It is projected to save money and reduce the cost of power generation for the system. The model includes risk operating costs to account for the impact of wind power output variability on the system, as well as wind farm negative efficiency operating costs to account for the loss caused by wind abandonment. The model also employs carbon trading market metrics to achieve the goal of lowering system carbon emissions, and analyze the impact of different carbon trading prices on the system. A low‐carbon economic dispatch model for the wind power market is implemented based on the following two goals. Finally, the solution is optimised using the Ant‐lion optimisation method, which combines Levi's flight mechanism and golden sine. The proposed model and algorithm's rationality is proven through the use of cases.

Keywords

• ant‐lion optimisation algorithm
• carbon trading
• Levi flight
• low‐carbon economic dispatch
• wind power market