Risk-based operation of plug-in electric vehicles in a microgrid using downside risk constraints method

To achieve the benefits as much as possible, it is required to identify the available PEV capacity and prepare scheduling plans based on that. The analysis revealed that the risk-based scheduling of the microgrid could reduce the financial risk completely from $9.89 to $0.00 and increases the expected operation cost by 24% from $91.38 to $112.94, in turn. This implies that the risk-averse decision-maker tends to spend more money to reduce the expected risk-in-cost by using the proposed downside risk management technique. At the end, by the help of fuzzy satisfying method, the suitable risk-averse strategy is determined for the studied case.