  Risk analysis is currently not quantified in microgrid resource scheduling
optimization. This paper conducts a conditional value at risk (cVaR) analysis
on a grid-disconnected residential microgrid with distributed energy resources
(DER). We assume the infrastructure to set up an ad-hoc microgrid is already in
place for a residential neighborhood with power sources such as photovoltaic
(PV), diesel, and battery energy storage system (BESS). With this scenario in
mind, we solve day-ahead scheduling to optimally allocate various resources to
match demand in scenarios where neighborhoods, especially residential, are
disconnected from the overall grid such as in flooding, hurricanes, winter
storms, or operational failures. The goal is to provide an alternative
framework to optimize power availability for priority customers and strengthen
the overall grid against dips in power outside of normal operating
considerations. The focus of this paper will be taking in renewable energy
sources from PV combined with diesel and BESS while minimizing cost. Case
studies demonstrate that with the proposed energy management system, microgrids
can be implemented to be more resilient against new challenges.
