Total Systems Cost: A Better Metric for Valuing Electricity in Supply Network Planning and Decision-Making

Byrom, Stephanie; Boston, Andy; Bongers, Geoff; Dargusch, Paul; Garnett, Andrew; Bongers, N.

doi:10.3808/jeil.202100056

Cited by 2 publications

(5 citation statements)

References 8 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…However, even in this case, the optimum solution has a significant contribution of 6% energy delivered by thermal backup. A follow-up paper is in preparation that takes account of full cost of each technology and balances the supply of grid services against requirements [12].…”

Section: Discussionmentioning

confidence: 99%

“…An Indicative System Cost (ISC) approach, rather than a full Total System Cost [12,42,44] approach was utilised for this study. The Total System Cost was considered to be too complex to demonstrate the possible shortfalls from a renewable drought, while acknowledging that a Total System Cost approach which incorporates renewables droughts will give the lowest system cost generation portfolio.…”

Section: Methodsmentioning

confidence: 99%

“…As the generation mix becomes increasingly reliant on wind and solar power [7], the impact of low wind and solar generation periods becomes more relevant [8][9][10][11]. The importance of understanding how wind and solar variability impacts the whole system, its impact on the total system cost [12], and the degree to which storage can mitigate wind and solar variability [13][14][15] is important for system stakeholders [16].…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Characterisation and mitigation of renewable droughts in the Australian National Electricity Market

Boston¹,

Bongers

2022

Environ. Res. Commun.

View full text Add to dashboard Cite

In a decarbonising world, the electricity generation mix in Australia’s National Electricity Market (NEM) is likely to be heavily dependent on wind and solar. Designing an electricity system dominated by variable renewable energy generation requires careful examination of periods of low renewable output to ensure storage or other back up generation is sufficient to avoid loss of load. This study uses 15 years of climate and electricity demand data to examine the frequency and nature of the occurrence of low renewable periods. It examines strategies for their mitigation so that unserved energy standards are not breached. We have found that the winter period, May to August, is the time where the NEM is at greatest risk of loss of load. This winter period is when the demand in southern Australian states is higher, solar generation is lower and a series of low wind periods can drain storage. It has been demonstrated that any proposed generation mix reliant on renewable energy generation should be stress tested across a low wind winter, like the complex winter of 2010, not just a single isolated low wind period. Storage was found to be ideal to provide energy for a few hours overnight, but firm dispatchable thermal generation is likely to be a lower cost option than long term storage for extended low wind periods. Diversifying generation with the addition of offshore wind may reduce the need for storage, although the need for floating wind turbines may make this alternative too expensive to add any value in the Australian context.

show abstract

Section: Discussionmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Characterisation and mitigation of renewable droughts in the Australian National Electricity Market

Boston¹,

Bongers

2022

Environ. Res. Commun.

View full text Add to dashboard Cite

show abstract

“…Byrom et al believed that the best economic index for low-carbon power grid analysis was the total system cost and its derivative index. By establishing the system alternative energy cost and carbon emission reduction cost, they solved the problem of insufficient indicators for investors to evaluate power generation cost [5]. Wang et al introduced the reliability coefficient into the optimization model of cogeneration system, evaluated the correlation between the economy and the reliability of the system, and effectively reduced carbon dioxide emissions and improved energy utilization efficiency [6].…”

Section: Introductionmentioning

confidence: 99%

“…believed that the best economic index for low‐carbon power grid analysis was the total system cost and its derivative index. By establishing the system alternative energy cost and carbon emission reduction cost, they solved the problem of insufficient indicators for investors to evaluate power generation cost [5]. Wang et al.…”

Section: Introductionmentioning

confidence: 99%

Market‐clearing framework of a resilient microgrid with renewable energy considering emission reduction targets

Fu,

Guo,

Yang

2023

IET Renewable Power Gen

View full text Add to dashboard Cite

With the gradual attention of global climate change, a series of carbon emission plans have been formally implemented in the field of energy. There is a consistent relationship between the carbon market and the electricity market in promoting clean energy development and improving carbon dioxide emission reduction targets. The market design of a low‐carbon power system should be considered as a whole to promote the coordinated development of carbon and power markets. Taking an industrial park in China as the research object, an internal market trading model of an industrial park considering carbon dioxide emission reduction targets is proposed. The proposed trading mechanism considers both carbon dioxide emission reduction targets and social welfare maximization. The proposed market trading model connects day‐ahead and intraday electricity markets, which deal with uncertainty about renewable energy sources.

show abstract

Total Systems Cost: A Better Metric for Valuing Electricity in Supply Network Planning and Decision-Making

Cited by 2 publications

References 8 publications

Characterisation and mitigation of renewable droughts in the Australian National Electricity Market

Characterisation and mitigation of renewable droughts in the Australian National Electricity Market

Market‐clearing framework of a resilient microgrid with renewable energy considering emission reduction targets

Contact Info

Product

Resources

About