Integrated approach for optimal techno-economic planning for high renewable energy-based isolated microgrid considering cost of energy storage and demand response strategies

To realize an efficient energy supply system for an isolated microgrid, a joint design framework that considered the capacity sizing alongside operational planning is essential. In this work, an integrated planning model was developed to investigate the techno-economic performances of a high renewable energy-based standalone microgrid. The approach combines capacity sizing and operation scheduling, considering demand-side management strategies...