Review of Literature on Different Algorithms of Economic Dispatch: A Comprehensive Examination of Methods, Applications and Performance Characteristics

Abstract

This review offers a comprehensive analysis of the literature on various economic dispatch algorithms in electrical networks. By examining diverse methods, applications, and performance characteristics, this review provides a thorough overview of the approaches used to optimize electricity production in electrical networks. Algorithms such as marginal unit, linear programming, taboo search, and genetic algorithms are explored, with particular attention given to their respective advantages and disadvantages. Real-world examples and case studies are also examined, allowing for a comparative evaluation of the performance and practical implications of each algorithm. By providing a comprehensive overview, this review offers an essential resource for researchers, practitioners, and policymakers interested in optimizing electrical networks and effectively managing energy resources.