Dynamic environmental economic dispatch of hybrid renewable energy systems based on tradable green certificates

China is accelerating the formulation of a renewable portfolio standard to promote the development and utilization of renewable energy. The implementation of the standard and corresponding tradable green certificates will change the scheduling procedures of thermal power and other renewable energy generators in the electric power system. This paper formulates a multi-objective dynamic economic emission dispatch model for wind-solar-hydro power under tradable green certificates. Weibull, Beta and Gumbel distributions are used to simulate the random behavior of wind, solar and hydro power, respectively, thus taking into account the overestimation and underestimation costs caused by the randomness of renewable energy. Moreover, a new multi-objective moth-flame optimization (MOMFO) based solution is proposed according to the characteristics of the dispatch model. The MOMFO is based on the external elite reservation and Pareto dominance. To improve the search capability, the strategy of average entropy initialization, Levy flight and variable scale chaotic strategy are introduced. A heuristic dynamic relaxation method is proposed, which is used to handle the complex constraints of the model. Finally, the feasibility of the proposed scheduling model and the effectiveness of the algorithm are illustrated using examples of different scheduling situations based on IEEE 39-bus standard system. (C) 2019 Elsevier Ltd. All rights reserved.