A Survey on Optimization-based Approaches for Economic Load Dispatch in Power Systems

Abstract

An Economic Load Dispatch (ELD) must be performed as part of power system operations to meet the load demand and stay within operational limits. The goal is to reduce the total generation cost. The efficient and dependable power supply is enhanced by ELD, which guarantees that the existing producing units are used to their full potential. Incorporating renewable energy sources and the growing complexity of contemporary power systems have brought this optimization dilemma into sharp focus. Recap the key findings regarding optimizing load distribution considering power balance, generator limits, and system reliability. Emphasize the importance of continuous improvement in optimizing load distribution to meet evolving energy demands and ensure sustainable power supply. With limitations like power balance, generator limits, and system reliability in mind, the main goal is to distribute the load demand among the generators to minimize the overall cost. This paper comprehensively reviews economic load dispatch based on optimization algorithms.