Stochastic profit‐based unit commitment problem considering renewable energy sources with battery storage systems and plug‐in hybrid electric vehicles

The paper presents a novel methodology based on BARON solver in general algebraic modeling system (GAMS) computational environment to solve the stochastic profit-based unit commitment (SPBUC) problem deregulated energy market. profit is considered as difference between total revenue collected by selling competitive market and production cost of energy. concepts like clearing price reserve are employed for determination expected revenue. Energy storage systems electric vehicles have benefit act load well generating sources during uncertain intermittent nature renewable (RES). Thus, RES combination with battery plug-in hybrid (PHEVs) modelled included present study. Monte Carlo Simulation technique deal wind speed, solar irradiance PHEVs. First, proposed solution tested 10-unit thermal without valve point loading wherein it has provided an enhanced 1.28% when compared existing results reported published literature. Secondly, comparative obtained solving SPBUC integrated different solvers available GAMS demonstrate that outperformed other terms computation time attained.