A new method for probabilistic assessments in power systems, combining monte carlo and stochastic‐algebraic methods. Issue 2 (30th July 2014)

• Record Type: Journal Article
• Authors: Noruzi, Alireza; Banki, Tohid; Abedinia, Oveis; Ghadimi, Noradin
• Is Part Of: Complexity. Volume 21:Issue 2(2015)
• Page Start: 100
• Page End: 110
• Publication Date: 2014-07-30
• Subjects: Monte Carlo method -- risk analysis -- probability density function -- stochastic‐algebraic method -- stochastic analysis; Chaotic behavior in systems -- Periodicals; Complexity (Philosophy) -- Periodicals; 003
• DOI: 10.1002/cplx.21582
• Languages: English
• ISSNs: 1076-2787

Abstract

Abstract : This article discusses a new methodology, which combines two efficient methods known as Monte Carlo (MC) and Stochastic‐algebraic (SA) methods for stochastic analyses and probabilistic assessments in electric power systems. The main idea is to use the advantages of each former method to cover the blind spots of the other. This new method is more efficient and more accurate than SA method and also faster than MC method while is less dependent of the sampling process. In this article, the proposed method and two other ones are used to obtain the probability density function of different variables in a power system. Different examples are studied to show the effectiveness of the hybrid method. The results of the proposed method are compared to the ones obtained using the MC and SA methods. © 2014 Wiley Periodicals, Inc. Complexity 21: 100–110, 2015