A Novel Consensus-driven Technique for Optimal Power Allocation in Smart Energy Networks Considering Multiple Fueling Feature of Thermal Plants

The goal of this research is to devised solution for energy dispatch problem based on consensus-driven method. The cost function for energy dispatch, which takes into account several fuel options, is typically formulated as a combined cost model. The aforementioned combined cost expression is subsequently employed to develop an incremental cost function by means of polynomial curve fitting methods. In order to address the issues related to the incremental cost function and take into account the many fuel sources utilized by private sector energy providers to deliver cost-effective electricity to consumers, a partly distributed consensus-based approach is utilized. The proposed approach adeptly addresses the concern of incremental cost within the integrated framework while simultaneously allowing the strategy of selecting several fuels. The suggested strategy effectively tackles the challenges arising from imbalances between supply and demand while also fostering consensus among stakeholders. Moreover, the system also accomplishes the tracking of the composite incremental cost and utilizes exponential optimization techniques. The effectiveness of the proposed design technique in generating steady exponential convergence is ultimately shown through simulations and the associated data.