Global minimization of financial losses due to voltage sags with FACTS based devices

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    Abstract

    FACTS based devices are proven to be an efficient mitigation solution for voltage sag prevention. The high cost of FACTS based devices often prohibits their wider deployment within power networks. This paper presents an approach for comprehensively assessing the financial benefits to the network resulting from their use. The annual financial losses of the entire network due to voltage sags are used as a savings target. The three most widely used FACTS based devices for voltage sag mitigation, namely, Static VA Compensator (SVC), Static Compensator (STATCOM) and Dynamic Voltage Restorer (DVR) are then optimally placed using a Niching Genetic Algorithm (NGA). The aim is to reduce overall financial losses in the network due to voltage sags. The cost of the individual devices along with their installation costs and annual maintenance are taken into account in the optimization procedure. Since this methodology is largely based on an economic evaluation of the solution, several conventional economic analysis methods are utilized. Simulations are performed on a 295-bus generic distribution network (GDN). © 2009 IEEE.
    Original languageEnglish
    Article number5352295
    Pages (from-to)298-306
    Number of pages8
    JournalIEEE Transactions on Power Delivery
    Volume25
    Issue number1
    DOIs
    Publication statusPublished - Jan 2010

    Keywords

    • Dynamic voltage restorer
    • FACTS
    • Genetic algorithm
    • Power quality
    • Static compensator
    • SVC
    • Voltage sags

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