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Renewable energy‐powered DC microgrids have emerged as a sustainable alternative for standalone power systems in remote locations, which were traditionally reliant on diesel generators (DIG) only. To ensure power quality and reliability, energy storage systems (ESS) and demand‐side management (DSM) techniques are employed, addressing the intermittent nature of renewable energy sources (RES). This manuscript presents a novel multi‐objective optimisation framework to determine the equipment sizing, depth of discharge (DoD) of ESS, and share of controllable loads contributing to DSM in a standalone DC microgrid incorporated with RES as a primary energy source and a backup DIG. The proposed optimisation strategy utilises genetic algorithm with the objectives of minimizing lifecycle cost and carbon footprint. A novel battery energy storage system (BESS) management criterion is introduced, which accounts for battery degradation in the lifecycle cost calculation. The minimum allowable DoD of the BESS is considered a decision variable in the optimisation problem to assess the impact of higher DoD on lifecycle cost improvement. MATLAB simulation results demonstrate that the proposed optimisation model significantly reduces the levelized cost of electricity and per unit carbon footprint compared to previous models. Additionally, it identifies an optimal range of DoD for the BESS to enhance the lifecycle cost of a standalone DC microgrid. [ABSTRACT FROM AUTHOR]

Increasing the replacement of conventional synchronous machines by non-synchronous renewable machines reduces the conventional synchronous generator (SG) inertia in the modern network. Synthetic inertia (SI) control topologies to provide frequency support are becoming a new frequency control tactic in new networks. However, the participation of SI in the market of RES-rich networks to provide instant frequency support when required proposes an increase in the overall marginal operation cost of contemporary networks. Consequently, depreciation of operation costs by optimizing the required SI in the network is inevitable. Therefore, this paper proposes a flexible SI optimization method. The algorithm developed in the proposed method minimizes the operation cost of the network by giving flexible SI at a given SG inertia and different sizes of contingency events. The proposed method uses Box's evolutionary optimizer with a self-tuning capability of the SI control parameters. The proposed method is validated using the modified New England 39-bus network. The results show that provided SIs support the available SG inertia to reduce the RoCoF values and maintain them within acceptable limits to increase the network's resilience. [ABSTRACT FROM AUTHOR]