Dynamic modeling of thermal generation capacity investment: Application to markets with high wind penetration

Dan Eager, Benjamin F. Hobbs, Janusz W. Bialek

Research output: Contribution to journalArticlepeer-review

35 Citations (Scopus)

Abstract

Modeling the dynamics of merchant generation investment in market environments can inform the making of policies whose goals are to promote investment in renewable generation while maintaining security of supply. Such models need to calculate expected output, costs and revenue of thermal generation subject to varying load and random generator outages in a power system with high penetrations of wind.

Original languageEnglish
Article number6179363
Pages (from-to)2127-2137
Number of pages11
JournalIEEE Transactions on Power Systems
Volume27
Issue number4
DOIs
Publication statusPublished - 2012
Externally publishedYes

Keywords

  • Mix of Normals distribution
  • power generation economics
  • thermal power generation
  • wind power generation

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