ENERGY MANAGEMENT IN HYBRID PV-WIND-BATTERY STORAGE-BASED MICROGRID USING MONTE CARLO OPTIMIZATION TECHNIQUE

The paper presents an efficient energy management system designed for a small-scale hybrid microgrid incorporating wind, solar, and battery-based energy generation systems using three types of Monte Carlo simulation techniques. The heart of the proposed system is the energy management system, which is responsible for maintaining power balance within the microgrid. The EMS continuously monitors variations in renewable energy generation and load demand and adjusts the operation of the energy conversion systems and battery storage to ensure optimal performance and reliability. The primary objective of the energy management system is to maintain power balance within the microgrid, even in the face of fluctuations in renewable energy generation and load demand. This involves dynamically adjusting the operation of the renewable energy sources and battery storage system to match the instantaneous power requirements of the microgrid. Overall, the paper presents a comprehensive approach to designing and implementing the Monte Carlo technique to extract maximum energy profit using the hybrid microgrid. By integrating renewable energy sources with energy storage and advanced control algorithms, the proposed system aims to enhance the reliability, stability, and sustainability of the microgrid's power supply.