Least cost generation expansion planning in the presence of renewable energy sources using correction matrix method with indicators-based discrete water cycle algorithm

Generation expansion planning (GEP) is a vital step in power system planning after load forecast. It is a highly constrained, dynamic, combinatorial, and discrete optimization problem. Mathematically, it is modeled as a mixed-integer nonlinear programming problem with high dimensionality and stochastic characteristics. The integration of renewable energy sources makes the GEP problem a complicated task and less reliable due to its intermittent...