R. Dominguez, M. Carrion
Important reasons lead us to think that future electric energy systems may be dominated by renewable energy sources. Global warming issues, air quality deterioration, the eventual increase in fossil fuel costs, security problems of nuclear power and the decrease in renewable investment costs are drivers for an increasing penetration of renewable energies. However, investment in generating capacity involves high uncertainty. In the real world, these decisions are usually made in several stages. We propose a multi-stage investment model to transform a thermal-based power system into a renewable-dominated one. We consider the uncertainty of the demand growth and the investment costs, as well as the variability of the renewable power production throughout the year. We use stochastic programming and linear decision rules to represent the uncertain parameters involving these models. A realistic case study is provided to illustrate how the proposed model works.
Keywords: Generation investment, linear decision rules, multi-stage planning, renewable units
Scheduled
ThB2 Renewable Energy Methods and Models
June 2, 2016 10:45 AM
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