Abstract
The usage of conventional fossil fuels has aided fast economic growth while also having negative consequences, such as increased global warming and the destruction of the ecosystem. This paper proposes a novel swarm-based metaheuristic method called Chimp Optimization Algorithm (ChOA) to tackle the environmental, economic dispatch issue and reducing the waste nonrenewable materials. In this regard, two objective functions named fuel cost function and emission cost function are proposed. Unique constrained handling also solves the challenge of multi-objective optimization. Standard IEEE 30 bus with six generators and a 10-unit system are used to demonstrate the usefulness of ChOA. The result of ChOA is compared with Individual Best Memory Penalty Factor Grey Wolf Optimizer (IBMPF-GWO), Improved Whale Trainer (IWT), Chaotic Biogeography-Based Optimizer (CBBO), Non-Linear Migration BBO (NLBBO), Hybrid Gravitational Search Algorithm Particle Swarm Optimization (GSAPSO), Covariance Matrix Adaptation Evolution Strategy (CMA-ES), Differential Evolution-Crossover Quantum Particle Swarm Optimization (DE-CQPSO), Salp Swarm Algorithm (SSA), Dragonfly Algorithm (DA), and Fuzzy Grasshopper Optimization Algorithm (FGOA) to confirm its efficiency. For both single- and multi-objective optimization, ChOA's assessment index and convergence rate are superior to other benchmark algorithms, regardless of whether the goal is to reduce emissions or to reduce fuel costs. The efficacy and robustness of the ChOA in handling environmental economic dispatch problems have been shown by discovering a good compromise value.