Related papers: Capacity Value of Additional Generation: Probabili…
In power system operation, characterizing the stochastic nature of wind power is an important albeit challenging issue. It is well known that distributions of wind power forecast errors often exhibit significant variability with respect to…
Rapid increase of renewable energy sources and electric vehicles in utility distribution feeders introduces more and more uncertainties. To investigate how such uncertainties may affect the available delivery capability (ADC) of the…
Aggregated stochastic characteristics of geographically distributed wind generation will provide valuable information for secured and economical system operation in electricity markets. This paper focuses on the uncertainty set prediction…
Long-term load forecasting plays a vital role for utilities and planners in terms of grid development and expansion planning. An overestimate of long-term electricity load will result in substantial wasted investment in the construction of…
The goal of this paper is to shed light on the statistical economies of scale achievable from sharing of storage between renewable generators. We conduct an extensive study using real world wind data from a grid of equispaced wind…
The probability of shortage absence is estimated for the storage of some transport system. The intensive computer methods of statistics are used in corresponding processes simulation. The efficiency of suggested approach, taking the mean…
Future greenhouse gas neutral energy systems will be dominated by renewable energy technologies providing variable supply subject to uncertain weather conditions. For this setting, we propose an algorithm for capacity expansion planning: We…
Uncertainty analysis in the form of probabilistic forecasting can significantly improve decision making processes in the smart power grid for better integrating renewable energy sources such as wind. Whereas point forecasting provides a…
Securing an adequate supply of dispatchable resources is critical for keeping a power system reliable under high penetrations of variable generation. Traditional resource adequacy mechanisms are poorly suited to exploiting the growing…
This paper proposes a novel capacity credit evaluation framework to accurately quantify the contribution of generalized energy storage (GES) to resource adequacy, considering both strategic capacity withholding and decision-dependent…
Renewable energy sources, especially wind energy, are to play a larger role in providing electricity to industrial and domestic consumers. This is already the case today for a number of European countries, closely followed by the US and…
Capacity expansion models used for policy support have increasingly represented both the variability and uncertainty of weather-dependent generation (wind and solar). However, although also uncertain, as demonstrated by the performance of…
The growth of wind generation capacities in the past decades has shown that wind energy can contribute to the energy transition in many parts of the world. Being highly variable and complex to model, the quantification of the…
This study delves into the origins of excess capacity by examining the reactions of capital, labor, and capital intensity. To achieve this, we have employed a novel three-layered production function model, estimating the elasticity of…
This paper studies the propagation of finite-sample uncertainty under nonlinear transformations commonly used in statistical decision systems. In particular, we consider process capability indices, which are widely used in manufacturing…
In environments with increasing uncertainty, such as smart grid applications based on renewable energy, planning can benefit from incorporating forecasts about the uncertainty and from systematically evaluating the utility of the forecast…
Prospective power supply systems based on Renewable Energy Sources require measures to balance power generation and load at all times. The utilisation of storage devices and backup power plants is widely suggested for this purpose, whereas…
Studies have evaluated the economic feasibility of 100% renewable power systems using the optimization approach, but the mechanisms determining the results remain poorly understood. Based on a simple but essential model, this study found…
Renewable energy is essential for energy security and global warming mitigation. However, power generation from renewable energy sources is uncertain due to volatile weather conditions and complex equipment operations. To improve…
When the traded energy and reserve products between zones are co-allocated to optimize the infrastructure usage, both deterministic and stochastic flows have to be accounted for on interconnector lines. We focus on allocation models, which…