Optimal Microgrid Component Sizing using Mixed Integer Linear Programming

This paper proposes a novel method for determining the optimal number of renewable energy and storage components in a microgrid given typical load profiles, local pricing regime, and capital costs. Case studies using solar panels and advanced lead acid battery modules are performed under residential, commercial, and off-grid sites. Simple mixed integer linear programming (MILP) optimization problems are formulated, presented, and solved in each scenario where economic analysis highlights the utility of the proposed approach.