Abstract
The increasing need for energy has placed optimization at the center of power engineering research and development. Presenting the theoretical underpinnings of optimization from a practical power system perspective, this review article on Electric Power System Applications of Optimization explores state-of-the-art techniques, novel approaches, and ongoing application difficulties. This work addresses several algorithmic issues that arise from the planning and management of power systems using diverse approaches, as well as the analytical formulation of optimization. This article introduces new features related to market programs, pricing, reliability, and developments in intelligent systems with working algorithms and examples. This paper discusses the latest developments in the fields of adaptive feedback design and approximate dynamic programming. In order to describe new concepts and variations of Adaptive Dynamic Programming, this work begins with fundamental theories and theorems from functional optimization, optimum control, and dynamic programming. Because of its innovative integration of basic optimization principles with application, this review article encourages power engineers to make new discoveries in the provision of energy at the optimal rate.
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