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Efficient and well‐timed investment in distributed generation (DG) in distribution networks in the electricity market environment presents a big challenge for distribution companies. In this study, a real option valuation framework is proposed to determine the optimal investment strategies for DG including the investment location, size, and timing. Within the proposed framework, the profit from investing in DG is modelled, where the benefits include the operation cost savings and capacity update deferral benefit compared with a no‐DG‐investment scenario over the study period. Future power demands and electricity prices are modelled as stochastic variables. The candidate DG investment plans are considered as multiple mutually exclusive options, and the corresponding managerial flexibility for seizing opportunities and mitigating risk of loss upon an unfavourable unfolding of future uncertainties is assessed with real option analysis using the extended least square Monte Carlo method. The distribution of future investment strategies and optimal initial investment threshold levels under various scenarios are analysed in a case study to demonstrate the characteristics of the proposed framework and methodology. [ABSTRACT FROM AUTHOR]

Widespread utilization of plug-in electric vehicles (PEVs) would incur more uncertainties, and thus challenge the traditional planning strategies for distribution systems. In this paper, a scenario-based comprehensive expansion planning (SCEP) approach for distribution systems is presented to cope with future uncertainties. This approach can not only take into account the initial investment and operation costs but also consider the expected adaptation cost to other future scenarios, and in this way the flexibility of an initial planning scheme can be achieved. Future scenarios are identified in line with three uncertainties, namely the conventional load levels, penetration levels of PEVs and whether or not with successful implementation of a coordinated charging strategy. The charging profile for dump charging mode has been determined straightforwardly, while that for coordinated charging mode is obtained by solving the proposed day-ahead dispatching model (DDM). Furthermore, a priority-based real time dispatching strategy (PRTDS) is proposed to obtain direct charging instructions for PEVs, and thus to demonstrate the rationality of utilizing the charging profile acquired from DDM in distribution system expansion planning (DSEP). Finally, the performance of the proposed methodology is demonstrated by numerical studies. [ABSTRACT FROM AUTHOR]

Three-phase unbalance could have significant impacts on the secure and economic operation of a low-voltage distribution system. With the deployment of smart meters and the emergence of phase switch devices (PSDs), more efficient schemes for mitigating three-phase unbalance are expected by utilizing numerous measurement data and the installed PSDs in low-voltage areas. Therefore, a bi-level optimal phase switch device placement model for mitigating three-phase unbalance is proposed in this work. In the upper-level model, the PSD placement strategy is optimized by minimizing the total costs of PSD installation and operation costs of low-voltage areas determined in the lower-level model. In the lower-level model, the operation costs of low-voltage areas for typical days are minimized based on the PSDs and their locations determined in the upper-level model. The proposed bi-level model is tested by an actual low-voltage area of Zhejiang province, China, and the effectiveness of the optimal PSD placement model for reducing the total investment and operation costs of the low-voltage area demonstrated. [ABSTRACT FROM AUTHOR]

This paper proposes an optimization model for the joint planning of sectionalizing switches (SSs), including remote-controlled switches (RCSs) and manual switches (MSs), and tie lines among distribution feeders. Considering a flexible installation of SSs and tie lines (i.e., deployment of SSs on both sides of a line and construction of external and internal tie lines on of a feeder), this model is conducive to developing an economic investment scheme while preserving the expected energy not supplied (EENS) reliability criterion. First, the minimum total cost of investment, maintenance and penalty for EENS is chosen as the objective function. Next, a route analysis method is introduced to analyze particular performances of different deployment schemes for RCSs, MSs, external tie lines and internal tie lines. Considering the differences between overhead lines and underground cables, the lower bound of the restoration time of each load is estimated based on optimal restoration strategies in different fault scenarios. Then, the joint planning problem is formulated as a mixed-integer linear programming (MILP) model with the aid of algebraic operations to calculate the global optimal solution. The effectiveness of the proposed model is verified for several cases in a 54-node distribution system. Numerical results indicate that the proposed planning solution merits higher economy and lower EENS as compared to the schemes offered by other prevalent methods. [ABSTRACT FROM AUTHOR]

An elaborately designed integrated power distribution and electric vehicle (EV) charging system will not only reduce the investment and operation cost of the system concerned, but also promote the popularization of environmentally friendly EVs. In this context, a multi-objective collaborative planning strategy is presented to deal with the optimal planning issue in integrated power distribution and EV charging systems. In the developed model, the overall annual cost of investment and energy losses is minimized simultaneously with the maximization of the annual traffic flow captured by fast charging stations (FCSs). Additionally, the user equilibrium based traffic assignment model (UETAM) is integrated to address the maximal traffic flow capturing problem. Subsequently, a decomposition based multi-objective evolutionary algorithm (MOEA/D) is employed to seek the non-dominated solutions, i.e., the Pareto frontier. Finally, collaborative planning results of two coupled distribution and transportation systems are presented to illustrate the performance of the proposed model and solution method. [ABSTRACT FROM PUBLISHER]

Resiliently designed and constructed integrated gas‐electric distribution networks (GEDNs) against natural disasters are crucial to social welfare. In this study, a two‐stage robust optimisation‐based co‐expansion planning model is proposed to attain an integrated GEDN with a given resilience level, by optimising the investment strategies of hardening and selective expansion of power distribution feeders and natural gas pipelines, as well as the location and capacity of natural‐gas‐fired distributed generation. In the first stage, the overall annual investment and operation cost is minimised under normal operation conditions while in the second stage, the feasibility of the investment decisions under the identified worst‐case natural disaster scenario is checked with an adjustable load shedding cost criterion. The proposed model is formulated as a mixed integer second‐order cone programming problem with the column and constraint generation algorithm employed to seek the optimal solution. Case studies on two integrated GEDNs demonstrate the performance of the proposed methodology. [ABSTRACT FROM AUTHOR]