Impact of the Complementarity between Variable Generation Resources and Load on the Flexibility of the Korean Power System

Min, Chang-Gi; Kim, Mun-Kyeom

doi:10.3390/en10111719

Cited by 19 publications

(11 citation statements)

References 28 publications

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“…Several studies have been conducted to evaluate solar-wind complementarity in various regions [16][17][18][19][29][30][31][32][33][34][35]. In [16], the authors exploit the solar-wind complementarity and hydropower along the downstream areas of Yalong River with the objective to stabilize the power produced.…”

Section: Literature Reviewmentioning

confidence: 99%

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Maximizing the Economic Benefits of a Grid-Tied Microgrid Using Solar-Wind Complementarity

et al. 2019

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The increasing use of intermittent, renewable energy sources (RESs) for electricity generation in microgrids (MGs) requires efficient strategies for reliable and economic operation. Complementarity between RESs provides good prospects for integrating several local energy sources and reducing the costs of MG setup and operations. This paper presents a framework for maximizing the economic benefits of a grid-tied MG by exploiting the spatial and temporal complementarity between solar and wind energies (solar-wind complementarity). The proposed framework considers the cost of energy production from different RESs and the cost of bi-directional energy exchange with the main grid. For a given RES mix, a minimum system power loss (SPL) threshold can also be determined. However, at this SPL threshold, MG energy exchange cost is not always minimized. The framework determines the optimized SPL value (above the threshold) at which MG energy exchange cost gets minimized. Through this framework, MG operator can decide appropriate RES mix and can achieve various tradeoffs according to the energy production cost, solar-wind complementarity of the site and its required economic objectives.

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Section: Literature Reviewmentioning

confidence: 99%

“…In this context, some RES intermittency in grid-tied MG may be mitigated through careful planning and investments in complementary RES, e.g., solar and wind [15][16][17][18][19]. At several geographical locations, solar irradiance and wind speeds have different (often opposite) variability characteristics.…”

Section: Introductionmentioning

confidence: 99%

Maximizing the Economic Benefits of a Grid-Tied Microgrid Using Solar-Wind Complementarity

et al. 2019

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“…The complementarity changes the variability, and thereby the flexibility. Related works were performed in [7]. The correlation between outputs of renewable energy resources may affect the complementarity.…”

Section: Scenario Generation and Sensitivity Analysismentioning

confidence: 99%

“…The flexibility problem has arisen because the outputs of the renewable energy resources, such as wind and PV power systems, are variable and unpredictable [6][7][8]. High penetration of wind and PV power systems increases the variability and uncertainty of the net load, and exacerbates the flexibility problem in power systems.…”

Section: Introductionmentioning

confidence: 99%

Analyzing the Impact of Variability and Uncertainty on Power System Flexibility

Min

2019

Applied Sciences

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Featured Application: This study presents a method for separating the variability and uncertainty in a power system, and determining which is more influential in terms of flexibility, based on the flexibility index, named the ramping capability shortage probability (RSP). A process of scenario generation and sensitivity analysis is also proposed, and applied to a modified IEEE-RTS-96. The proposed method can evaluate the individual effect of variability and uncertainty and effectively provide the system operator with information that will enable more efficient operation and planning of a power system. Abstract:This study investigates the impact of variability and uncertainty on the flexibility of a power system. The variability and uncertainty make it harder to maintain the balance between load and generation. However, most existing studies on flexibility evaluation have not distinguished between the effects of variability and uncertainty. The countermeasures to address variability and uncertainty differ; thus, applying strategies individually tailored to variability and uncertainty is helpful for more efficient operation and planning of a power system. The first contribution of this study is in separating the variability and uncertainty, and determining which is more influential in terms of flexibility in specific system situations. A flexibility index, named the ramping capability shortage probability (RSP), is used to quantify the extent to which the variability and uncertainty affect the flexibility. The second contribution is to generate various scenarios for variability and uncertainty based on a modified IEEE-RTS-96, to evaluate the flexibility. The penetration level of renewable energy resources is kept the same in each scenario. The results of a sensitivity analysis show that variability is more effective than uncertainty for high and medium net loads.

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“…In order to evaluate the effect of increasing RE generation to market price, our study took into account the historical average variations of RE utilization. In Korea, the market price is determined by the marginal cost of the power plant [33], and then it can be linked to the international crude oil price. Since Asian LNG (Liquefied Natural Gas) is usually contracted from the Middle East, this contract type is mainly based on the crude oil price [34].…”

Section: Data Description and Scenario Assumptionsmentioning

confidence: 99%

Real Levelized Cost of Energy with Indirect Costs and Market Value of Variable Renewables: A Study of the Korean Power Market

2019

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A levelized cost of energy (LCOE) is a methodology for comparing power generation costs in the transition to renewable energy (RE). However, the major limitation of evaluating RE based on the LCOE is that it does not consider indirect costs, such as the environmental and curtailment effect. This paper proposes the real LCOE (rLCOE) approach that accounts for indirect and direct generation costs. The mathematical approach to estimating indirect costs is derived from economic theory. The indirect effects, which quantify all benefits generated due to RE, is related to the variability of the share RE in the energy generation mix. The rLCOE enhances the accuracy of the economic comparison of power generation costs and the derivation of the optimal quantities of RE because external effects are incorporated into the LCOE principles. This approach has taken into account electricity demand, fuel prices, and environmental costs for each energy source to adequately compare generation costs. Simulations have been performed to demonstrate the application of the rLCOE approach in the Korean power market. Here, the unit variation of costs with the RE share were analyzed. The results show that indirect cost savings of an additional unit of RE begin to fall in scenario 3 in contrast to the result of LCOE approach indicating higher generation costs with RE share, especially, the proportion of RE in the generation mix is higher than 20%. Thus, the optimal power generation can be evaluated using the rLCOE approach.

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Impact of the Complementarity between Variable Generation Resources and Load on the Flexibility of the Korean Power System

Cited by 19 publications

References 28 publications

Maximizing the Economic Benefits of a Grid-Tied Microgrid Using Solar-Wind Complementarity

Maximizing the Economic Benefits of a Grid-Tied Microgrid Using Solar-Wind Complementarity

Analyzing the Impact of Variability and Uncertainty on Power System Flexibility

Real Levelized Cost of Energy with Indirect Costs and Market Value of Variable Renewables: A Study of the Korean Power Market

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