Journal of Global Optimization
Particle Swarm Based Meta-Heuristics for Function Optimization and Engineering Applications
CISIM '08 Proceedings of the 2008 7th Computer Information Systems and Industrial Management Applications
ICTAI '10 Proceedings of the 2010 22nd IEEE International Conference on Tools with Artificial Intelligence - Volume 01
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As energy costs are expected to keep rising in the coming years, mostly due to a growing worldwide demand, optimizing power generation is of crucial importance for utilities. Economic power dispatch is a tool commonly used by electric power plant operators to optimize the use of generation units. Optimization algorithms are at the center of such techniques and several different types of algorithms, such as genetic or particle swarm algorithms, have been proposed in the literature. This paper proposes the use of a new metaheuristic called imperialist competitive algorithm (ICA) for solving the economic dispatch problem. The algorithm performance is compared with the ones of other common algorithms. The accuracy and speed of the algorithm are especially studied. Results are obtained through several simulations on power plants and microgrids in which variable numbers of generators, storage units, loads and grid import/export lines are connected.