The Experts below are selected from a list of 312 Experts worldwide ranked by ideXlab platform
Geert Deconinck - One of the best experts on this subject based on the ideXlab platform.
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Quantifying the importance of Power System operation constraints in Power System Planning models: A case study for electricity storage
Journal of energy storage, 2017Co-Authors: Arne Van Stiphout, Tom Brijs, Ronnie Belmans, Geert DeconinckAbstract:Abstract The realized and expected growth of variable renewable energy sources challenges both Power System operation and Power System Planning. A decreasing share of dispatchable generation technologies in electricity generation and an increasing need for short-term flexibility means that the added value of alternative short-term flexibility providers, such as electricity storage, becomes important. This paper studies the way in which alternative flexible resources, here storage technologies, generate added value by running various set-ups of a Power System Planning model with different levels of operational detail. Firstly, this allows to identify the different roles flexible technologies play in Power System operation, and the subsequent impact on Power System Planning. Secondly, this allows to determine the importance of operational detail in Power System Planning models to accurately assess the value of flexibility. Results show that storage technologies have the technical ability to provide firm capacity, smoothen the residual load curve, manage the impact of hourly dispatch constraints and provide reserve capacity. Nevertheless, the extent to which this is translated into investment depends on how cost-effectively a technology can offer these services. Results further show that to fully capture the added value of flexibility providers high operational detail is needed in Planning models.
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Quantifying the importance of Power System operation constraints in Power System Planning models: A case study for electricity storage
Journal of Energy Storage, 2017Co-Authors: Arne Van Stiphout, Tom Brijs, Ronnie Belmans, Geert DeconinckAbstract:© 2017 Elsevier Ltd The realized and expected growth of variable renewable energy sources challenges both Power System operation and Power System Planning. A decreasing share of dispatchable generation technologies in electricity generation and an increasing need for short-term flexibility means that the added value of alternative short-term flexibility providers, such as electricity storage, becomes important. This paper studies the way in which alternative flexible resources, here storage technologies, generate added value by running various set-ups of a Power System Planning model with different levels of operational detail. Firstly, this allows to identify the different roles flexible technologies play in Power System operation, and the subsequent impact on Power System Planning. Secondly, this allows to determine the importance of operational detail in Power System Planning models to accurately assess the value of flexibility. Results show that storage technologies have the technical ability to provide firm capacity, smoothen the residual load curve, manage the impact of hourly dispatch constraints and provide reserve capacity. Nevertheless, the extent to which this is translated into investment depends on how cost-effectively a technology can offer these services. Results further show that to fully capture the added value of flexibility providers high operational detail is needed in Planning models.
L.m. Proenca - One of the best experts on this subject based on the ideXlab platform.
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why risk analysis outperforms probabilistic choice as the effective decision support paradigm for Power System Planning
IEEE Transactions on Power Systems, 1998Co-Authors: Vladimiro Miranda, L.m. ProencaAbstract:This paper demonstrates that a classical stochastic optimization is, in many cases, not convenient for Power System Planning. Instead, a risk analysis approach is proposed. In a comparison of both Planning paradigms, the probabilistic approach is in occasions not adequate, is half blind to compromise solutions and leads, in numerous, cases to riskier decisions. The technical discussion is illustrated with a distribution Planning example.
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Probabilistic choice vs. risk analysis-conflicts and synthesis in Power System Planning
IEEE Transactions on Power Systems, 1998Co-Authors: V. Miranda, L.m. ProencaAbstract:This paper shows the conceptual differences between adopting a probabilistic weighting of the futures and a risk averse strategy, in Power System Planning under uncertain scenarios. It is illustrated with a distribution Planning problem, where optimal solutions in both cases are determined by a genetic algorithm. It shows that the probabilistic approach is less safe and cannot detect some interesting solutions.
Michael Negnevitsky - One of the best experts on this subject based on the ideXlab platform.
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Real options on Power System Planning under uncertainties and efficiency constraints
Proceedings - 2014 Power Systems Computation Conference, PSCC 2014, 2014Co-Authors: Marc Osthues, Gerardo A. Blanco, Christian Rehtanz, Michael NegnevitskyAbstract:Deregulation and large-scale renewable energy penetration have increased uncertainties in Power System Planning. Strategic flexibility in project Planning and decision making is needed to mitigate increasing risks. This paper proposes a methodology that improves decision making by valuing the flexibility of investment strategies to cope with uncertainty. This is done by integrating maintenance and expansion Planning. The flexibility of investment strategies, including reinvestment and expansion projects under uncertainties, is evaluated by a Real Option approach. The proposed methodology is tested on a 30-bus IEEE System. Monte Carlo simulations of uncertain state variables and the Least-Squares Monte Carlo approach are applied for evaluating investment options using dynamic backward programming. The analysis shows that flexible strategies gain in importance with increasing uncertainty and under efficiency constraints. In addition, the deferral of the final investment decision between alternative strategies remains a valuable option.
Allen J Wood - One of the best experts on this subject based on the ideXlab platform.
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risk and uncertainty in Power System Planning
International Journal of Electrical Power & Energy Systems, 1991Co-Authors: Hyde M Merrill, Allen J WoodAbstract:Abstract New methods are needed for dealing with uncertainty and risk in Power System Planning. This paper discusses the basic issues of uncertainty and risk analysis, and presents a new framework for dealing with them. A previous paper presented trade-off analysis as an approach for dealing with Planning problems with multiple conflicting objectives. This paper extends the trade-off method by showing how risks, which arise because of uncertainties, can be dealt with using trade-off analysis. A step-by-step approach is presented and illustrated with case studies.
Marc Osthues - One of the best experts on this subject based on the ideXlab platform.
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Real options on Power System Planning under uncertainties and efficiency constraints
Proceedings - 2014 Power Systems Computation Conference, PSCC 2014, 2014Co-Authors: Marc Osthues, Gerardo A. Blanco, Christian Rehtanz, Michael NegnevitskyAbstract:Deregulation and large-scale renewable energy penetration have increased uncertainties in Power System Planning. Strategic flexibility in project Planning and decision making is needed to mitigate increasing risks. This paper proposes a methodology that improves decision making by valuing the flexibility of investment strategies to cope with uncertainty. This is done by integrating maintenance and expansion Planning. The flexibility of investment strategies, including reinvestment and expansion projects under uncertainties, is evaluated by a Real Option approach. The proposed methodology is tested on a 30-bus IEEE System. Monte Carlo simulations of uncertain state variables and the Least-Squares Monte Carlo approach are applied for evaluating investment options using dynamic backward programming. The analysis shows that flexible strategies gain in importance with increasing uncertainty and under efficiency constraints. In addition, the deferral of the final investment decision between alternative strategies remains a valuable option.