Economic Dispatch

Economic dispatch (ED) optimizes power generation to minimize cost while meeting demand and maintaining grid stability. Current research heavily focuses on developing faster, more robust ED solutions using machine learning techniques, such as convolutional neural networks (CNNs), deep reinforcement learning (DRL), and Gaussian processes (GPs), to handle the increasing uncertainty from renewable energy sources. These data-driven approaches aim to replace or augment traditional numerical optimization methods, enabling real-time decision-making and improved grid management in the face of fluctuating renewable generation and demand. The resulting improvements in efficiency and reliability have significant implications for grid operations, emissions reduction, and market optimization.