| Summary: | The fixed and subjective setting of the penalty coefficient is a significant drawback of existing penalty-based programming models used to determine the size of flexible resources (FRs), such as microturbines and battery energy storage systems, for isolated microgrids (IMs). Generally, most researchers set the penalty coefficient to a sufficiently large value to ensure a satisfactory operational performance of IMs, which often leads to redundant and uneconomical configurations. How to balance the operational performance and economic configuration is an intractable problem confronted by many researchers. In this paper, a penalty adjustment-based sizing method is proposed to solve the aforementioned problems. Specifically, four indicators are defined to evaluate the size of FRs. Based on the assessment metrics, a trade-off sizing method is proposed to attain the FR size with the maximum marginal benefit. This method is combined with mixed integer programming to propose a penalty adjustment-based sizing algorithm to solve the optimal penalty coefficient and size of FRs. Simulations verify that the proposed method can avoid subjectivity and improve the traditional conservative configuration.
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