A microgrid is an autonomous electrical system that consists of renewable energy and efficiently achieves power balance in a network. The complexity in the distribution network arises due to the intermittent nature of renewable generation units and varying power. One of the important objectives of a microgrid is to perform energy management based on situational awareness and solve an optimization problem. This paper proposes an enhanced multi-objective multi-verse optimizer algorithm (MOMVO) for stochastic generation power optimization in a renewable energy-based islanded microgrid framework. The proposed algorithm is utilized for optimum power scheduling among various available generation sources to minimize the microgrid’s generation costs and power losses. The performance of MOMVO is assessed on a 6-unit and 10-unit test system. Simulation results show that the proposed algorithm outperforms other metaheuristic algorithms for multi-objective optimization.
