Reducing fuel, energy loss, investment, operation, and maintenance costs for transmission power grids with FACTS and renewable energy

The study optimizes the location and size of wind power plants (WPs), Thyristor Controlled Series Capacitor (TCSC), and Static VAr Compensator (SVC) in the IEEE 30-bus transmission power grid to minimize the total cost of loss, fuel of thermal generating units, and TCSC and SVC in one operating hour. The investment, operation, and maintenance costs of the WPs, TCSC, and SVC are converted into one hour, and the peak hour with the highest load demand is applied. The constriction factor-based particle swarm optimization (CF-PSO), Coot optimization algorithm (COOT), Equilibrium optimizer (EO), and Hippopotamus optimization algorithm (HO) are applied for the grid. The study cases are executed to choose the most suitable algorithm, and EO is selected. The results indicate that combining two TCSCs and two SVCs is the most effective in reaching the minimum total costs. In addition, the simulations for installing WPs in three different zones in Vietnam with different mean wind speeds, such as 6.33 m/s, 8.11 m/s and 10.25 m/s indicate that the mean wind speed of 6.33 m/s is not suitable for placing WPs. For the two remaining mean wind speeds, the investment of WPs is maximum, and the total cost is minimum.