Optimal combination of stochastic renewables installation

The optimal installation of Renewable Energy Sources (RES) constitutes one of the main research topics related to the ongoing energy transition and the efficient utilization of resources. This paper presents an adaptable optimization algorithm for the optimal selection of various stochastic RES, such as Photovoltaic (PV) systems and Wind Generators (WGs), knowing the production profile of each type of RES and the limitations related to its size. The purpose is to define the optimal combination that minimizes the mismatch between the total RES production to be installed and the load curve. The main advantages of the algorithm are that it can perform calculations with high resolution for large time intervals, e.g., a representative year, it may take any number of RES types into consideration and is completely open source, meaning that the solver behind the optimization model is developed as well. The algorithm is applied to a power system that considers the installation of three different types of stochastic RES with an hourly resolution for one representative year in order to highlight its effectiveness.