Cost-Benefit Analysis of Multiple Shunt Compensators Allocation in PV-Integrated Distribution Networks for Profit Maximization

Abstract

This article presents the cost-benefit analysis of multiple shunt compensator (SHC) allocations in photovoltaic (PV)-integrated distribution networks for profit maximization. This article strategically places multiple SHCs in a PV-integrated distribution network to minimize energy losses (EL) and maximize profits by providing reactive power compensation. The study evaluates the EL reduction achieved by installing SHCs during a 20-year planning period. It considers the impact of PV integration, load growth, seasonal load, and PV generation profiles on overall system performance. Particle Swarm Optimization (PSO) is employed to identify optimal locations for SHCs to maximize the profit obtained from EL reduction in the network. The results demonstrate that SHCs significantly reduce EL and enhance system performance. The cost-benefit analysis shows that the profit obtained from EL reduction justifies the investment required for SHC installation. Furthermore, the overall profit is higher for scenarios with more SHCs. These findings highlight the importance of carefully balancing PV integration and SHC placement to achieve maximum benefits in PV-integrated distribution networks. This article also evaluates the effectiveness of the PSO algorithm on different distribution networks through a comprehensive statistical analysis.

Keywords:

• PV-integrated distribution networks
• shunt compensator
• energy loss reduction
• profit maximization
• particle swarm optimization

DISCLOSURE STATEMENT

No potential conflict of interest was reported by the authors.

Additional information

Notes on contributors

Vamsi Priya Goli

Vamsi Priya Goli was born in Andhra Pradesh, India. She graduated in Electrical and Electronics Engineering (EEE) from JNTU College of Engineering, Vizianagaram, India, in 2018. She received Post-Graduation in Power Electronics and Power Systems (PEPS) from the National Institute of Technology Goa, India, in 2020. She is now pursuing her Ph.D. degree from the Department of Electronics and Electrical Engineering, Indian Institute of Technology Guwahati, from 2020 onwards. Her areas of interest are Power Quality, Active Distribution Network Control, Custom Power Devices, Distribution System Planning and Optimization, and Multi-objective Optimization.

Sanjib Ganguly

Sanjib Ganguly was born in West Bengal, India. He obtained Bachelor of Engineering degree in Electrical Engineering from Indian Institute of Engineering, Science, and Technology (IIEST), Shibpur {Formerly, Bengal Engineering and Science University} in 2003. He received Master of Electrical Engineering degree from Jadavpur University, Kolkata in 2006. He was awarded with the Ph.D degree from the Department of Electrical Engineering, Indian Institute of Technology Kharagpur in 2011. He worked in the Tata Power Company Ltd., as a Sr. officer, electrical maintenance of 2×500 MW thermal power units in Trombay Thermal Power Station, Mumbai from 2006-2007. He worked as the Assistant Professor in NIT Rourkela from 2011-2015, before joining in IIT Guwahati in 2015. He is presently working as Associate Professor in the Department of Electronics and Electrical Engineering, IIT Guwahati. His research interest includes distribution system planning and optimization, voltage control and stability, multi-objective optimization, custom power devices, hybrid energy systems, and evolutionary algorithms. He has authored 45 papers in international journals, which include IEEE Transactions, IET, and different Elsevier, Springer, and Wiley journals with more than 2265 citations according to the Google scholar, till date. He has published sole-authored papers in IEEE Transactions Power Systems, IEEE Transactions Power Delivery, and IET Generation, Transmissions, and Distribution. He is enlisted to the World’s top 2% scientist list in the years of 2019, 2020, 2021, 2022 according to the list published by authors of Stanford University, USA.