Abstract

In the realm of sustainable energy solutions, microgrids have emerged as resilient and self-sufficient systems, captivating attention for their potential to elevate sustainability, reliability, and energy efficiency. This in-depth review delves into the intricate domain of microgrid optimization, emphasizing the pivotal roles of economic optimization, control mechanisms, and the seamless integration of renewable energy sources. By conducting a thorough analysis of current research discoveries, state-of-the-art technological advancements, and enlightening instances of real-world scenarios, the objective of this paper is to furnish a refined comprehension of the intricacies associated with the enhancement of microgrid performance. The review emphasizes the importance of economic factors in the operation of microgrids, delving into areas such as energy management systems and analyses of costs and benefits. Diverse strategies for control, ranging from centralized methods to decentralized approaches, hierarchical models, and mechanisms for droop control, are examined closely in order to assess their contributions to the enhancement of microgrid efficiency. Furthermore, the investigation examines the intricacies linked with the incorporation of sustainable power sources, providing useful perspectives on surmounting obstacles associated with irregularity and fluctuation. In the end, this all-encompassing assessment serves as a precious asset, contributing to the continuous discussion on microgrid enhancement. By amalgamating existing knowledge, the manuscript strives to steer forthcoming research undertakings and expedite progress in viable and enduring energy systems.

Key words: Microgrid; Control Strategies; Performance Optimization; Renewable Energy; Economic Optimization