Optimal location and rating of wind power plants in competitive electricity market
A large penetration of renewable energy in a sector plays a leading role in energy generation to counter the effect of global warming on the environment. The trend in liberalized power system scenarios presents the potential of the wind power generator (WPG) to become one of the major contributors in the alternative energy production sector. Environmental conditions significantly influence the performance of these WPGs, and thus, the optimal assessment of the potential location and rating of the WPG is crucial. This paper presents a generalized model for determining the optimal location and rating of the WPG in a competitive electricity market. The multi-objective optimization problem has been formulated with an objective of maximizing the social welfare and profitability of a wind generation company by minimizing the distribution losses by optimal location and rating of WPGs in the system. To investigate the effectiveness of the proposed approach, a 39-bus New England transmission system has been modifie...