Economic cost-benefit analysis for power system operations with environmental considerations

Alberto J. Lamadrid; Daniel L. Shawhan; Carlos E. Murillo-Sanchez; Ray D. Zimmerman; Yujia Zhu; Daniel Tylavsky; Andrew Kindle; Zamiyad Dar

doi:10.1109/PTC.2015.7232802

Economic cost-benefit analysis for power system operations with environmental considerations

Alberto J. Lamadrid, Daniel L. Shawhan, Carlos E. Murillo-Sanchez, Ray D. Zimmerman, Yujia Zhu, Daniel Tylavsky, Andrew Kindle, Zamiyad Dar

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

1 Scopus citations

Abstract

This paper presents a model aimed at evaluating the effects of integrating Renewable Energy Sources (RES) in the electricity system, from the perspective of a system operator, taking into account the cost of Carbon Dioxide (C0₂) emissions. The model is especially suited to analyze the interactions of energy storage systems (ESS) with conventional generation sources, in the framework of reliable operation (n - 1). One of the most important consequences of high levels of RES in the network is the variability induced on the existing generation fleet, and the wear-and-tear derived from ramping conventional units to counteract the changes in RES output. Our Security-Constrained Optimal Power Flow (SC-OPF) optimizes the injection into the network, including the cost of changes between periods for a given horizon. The results show that the main benefits derived from ESS are the reduction in the provision of ancillary services from conventional generation sources. These services are instead provided by ESS units. This is an important additional revenue stream for storage system owners, especially in the face of the cost of capital of these resources.

Original language	English (US)
Title of host publication	2015 IEEE Eindhoven PowerTech, PowerTech 2015
Publisher	Institute of Electrical and Electronics Engineers Inc.
ISBN (Print)	9781479976935
DOIs	https://doi.org/10.1109/PTC.2015.7232802
State	Published - Aug 31 2015
Event	IEEE Eindhoven PowerTech, PowerTech 2015 - Eindhoven, Netherlands Duration: Jun 29 2015 → Jul 2 2015

Other

Other	IEEE Eindhoven PowerTech, PowerTech 2015
Country/Territory	Netherlands
City	Eindhoven
Period	6/29/15 → 7/2/15

Keywords

Energy Storage Systems
Ramping costs
Renewable Generation

ASJC Scopus subject areas

Renewable Energy, Sustainability and the Environment
Electrical and Electronic Engineering
Energy Engineering and Power Technology

Access to Document

10.1109/PTC.2015.7232802

Cite this

Lamadrid, A. J., Shawhan, D. L., Murillo-Sanchez, C. E., Zimmerman, R. D., Zhu, Y., Tylavsky, D., Kindle, A., & Dar, Z. (2015). Economic cost-benefit analysis for power system operations with environmental considerations. In 2015 IEEE Eindhoven PowerTech, PowerTech 2015 Article 7232802 Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/PTC.2015.7232802

Economic cost-benefit analysis for power system operations with environmental considerations. / Lamadrid, Alberto J.; Shawhan, Daniel L.; Murillo-Sanchez, Carlos E. et al.
2015 IEEE Eindhoven PowerTech, PowerTech 2015. Institute of Electrical and Electronics Engineers Inc., 2015. 7232802.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Lamadrid, AJ, Shawhan, DL, Murillo-Sanchez, CE, Zimmerman, RD, Zhu, Y, Tylavsky, D, Kindle, A & Dar, Z 2015, Economic cost-benefit analysis for power system operations with environmental considerations. in 2015 IEEE Eindhoven PowerTech, PowerTech 2015., 7232802, Institute of Electrical and Electronics Engineers Inc., IEEE Eindhoven PowerTech, PowerTech 2015, Eindhoven, Netherlands, 6/29/15. https://doi.org/10.1109/PTC.2015.7232802

@inproceedings{95e7b69d31b544ad8797a3c10ac84643,

title = "Economic cost-benefit analysis for power system operations with environmental considerations",

abstract = "This paper presents a model aimed at evaluating the effects of integrating Renewable Energy Sources (RES) in the electricity system, from the perspective of a system operator, taking into account the cost of Carbon Dioxide (C02) emissions. The model is especially suited to analyze the interactions of energy storage systems (ESS) with conventional generation sources, in the framework of reliable operation (n - 1). One of the most important consequences of high levels of RES in the network is the variability induced on the existing generation fleet, and the wear-and-tear derived from ramping conventional units to counteract the changes in RES output. Our Security-Constrained Optimal Power Flow (SC-OPF) optimizes the injection into the network, including the cost of changes between periods for a given horizon. The results show that the main benefits derived from ESS are the reduction in the provision of ancillary services from conventional generation sources. These services are instead provided by ESS units. This is an important additional revenue stream for storage system owners, especially in the face of the cost of capital of these resources.",

keywords = "Energy Storage Systems, Ramping costs, Renewable Generation",

author = "Lamadrid, {Alberto J.} and Shawhan, {Daniel L.} and Murillo-Sanchez, {Carlos E.} and Zimmerman, {Ray D.} and Yujia Zhu and Daniel Tylavsky and Andrew Kindle and Zamiyad Dar",

year = "2015",

month = aug,

day = "31",

doi = "10.1109/PTC.2015.7232802",

language = "English (US)",

isbn = "9781479976935",

booktitle = "2015 IEEE Eindhoven PowerTech, PowerTech 2015",

publisher = "Institute of Electrical and Electronics Engineers Inc.",

note = "IEEE Eindhoven PowerTech, PowerTech 2015 ; Conference date: 29-06-2015 Through 02-07-2015",

}

TY - GEN

T1 - Economic cost-benefit analysis for power system operations with environmental considerations

AU - Lamadrid, Alberto J.

AU - Shawhan, Daniel L.

AU - Murillo-Sanchez, Carlos E.

AU - Zimmerman, Ray D.

AU - Zhu, Yujia

AU - Tylavsky, Daniel

AU - Kindle, Andrew

AU - Dar, Zamiyad

PY - 2015/8/31

Y1 - 2015/8/31

N2 - This paper presents a model aimed at evaluating the effects of integrating Renewable Energy Sources (RES) in the electricity system, from the perspective of a system operator, taking into account the cost of Carbon Dioxide (C02) emissions. The model is especially suited to analyze the interactions of energy storage systems (ESS) with conventional generation sources, in the framework of reliable operation (n - 1). One of the most important consequences of high levels of RES in the network is the variability induced on the existing generation fleet, and the wear-and-tear derived from ramping conventional units to counteract the changes in RES output. Our Security-Constrained Optimal Power Flow (SC-OPF) optimizes the injection into the network, including the cost of changes between periods for a given horizon. The results show that the main benefits derived from ESS are the reduction in the provision of ancillary services from conventional generation sources. These services are instead provided by ESS units. This is an important additional revenue stream for storage system owners, especially in the face of the cost of capital of these resources.

AB - This paper presents a model aimed at evaluating the effects of integrating Renewable Energy Sources (RES) in the electricity system, from the perspective of a system operator, taking into account the cost of Carbon Dioxide (C02) emissions. The model is especially suited to analyze the interactions of energy storage systems (ESS) with conventional generation sources, in the framework of reliable operation (n - 1). One of the most important consequences of high levels of RES in the network is the variability induced on the existing generation fleet, and the wear-and-tear derived from ramping conventional units to counteract the changes in RES output. Our Security-Constrained Optimal Power Flow (SC-OPF) optimizes the injection into the network, including the cost of changes between periods for a given horizon. The results show that the main benefits derived from ESS are the reduction in the provision of ancillary services from conventional generation sources. These services are instead provided by ESS units. This is an important additional revenue stream for storage system owners, especially in the face of the cost of capital of these resources.

KW - Energy Storage Systems

KW - Ramping costs

KW - Renewable Generation

UR - http://www.scopus.com/inward/record.url?scp=84951320119&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84951320119&partnerID=8YFLogxK

U2 - 10.1109/PTC.2015.7232802

DO - 10.1109/PTC.2015.7232802

M3 - Conference contribution

AN - SCOPUS:84951320119

SN - 9781479976935

BT - 2015 IEEE Eindhoven PowerTech, PowerTech 2015

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - IEEE Eindhoven PowerTech, PowerTech 2015

Y2 - 29 June 2015 through 2 July 2015

ER -

Economic cost-benefit analysis for power system operations with environmental considerations

Abstract

Other

Keywords

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

Cite this