Decarbonization of existing electricity generation portfolios with large-scale renewable resources, such as wind and solar photo-voltaic (PV) facilities, is important for a transition to a sustainable energy future. This paper proposes an ultra-fast optimization method for economic dispatch of firm thermal generation using high granularity, one minute resolution load, wind, and solar PV data to more accurately capture the effects of variable renewable energy (VRE). Load-generation imbalance and operational cost are minimized in a multi-objective clustered economic dispatch problem with various generation portfolios, realistic generator flexibility, and increasing levels of VRE integration. The economic feasibility of thermal dispatch scenarios is evaluated through a proposed method of levelized cost of energy (LCOE) for clustered generation portfolios. Effective renewable economics is applied to assess resource adequacy, annual carbon emissions, renewable capacity factor, over generation, and cost to build between thermal dispatch scenarios with incremental increases in VRE penetration. Solar PV and wind generation temporally complement one another in the region studied, and the combination of the two is beneficial to renewable energy integration. Furthermore, replacing older coal units with cleaner and agile natural gas units increases renewable hosting capacity and provides further pathways to decarbonization. Minute-based chronological simulations enable the assessment of renewable effectiveness related to weather-related variability and of complementary technologies, including energy storage for which a sizing procedure is proposed. The generally applicable methods are regionally exemplified for Kentucky, USA, including eight scenarios with four major year-long simulated case studies and 176 subcases using high performance computing (HPC) systems.
|State||Published - Feb 2023|
Bibliographical noteFunding Information:
The support received by Donovin D. Lewis through an National Science Foundation (NSF) Graduate Research Fellowship under Grant No. 1839289 and through University of Kentucky Otis A. Singletary Fellowship, by Evan S. Jones through a US Department of Education (DoEd) GAANN Fellowship, and by Rosemary E. Alden through an NSF Graduate Research Fellowship under Grant No. 1839289 and through University of Kentucky, the L. Stanley Pigman Chair in Power Endowment is also gratefully acknowledged. The support of the Louisville Gas and Electric and Kentucky Utilities (LG&E and KU), part of the PPL Corporation family of companies, is gratefully acknowledged. Any opinions, findings, conclusions, or recommendations expressed in this material are those of the authors alone and do not necessarily reflect the views of the NSF, DoEd, University of Kentucky, LG&E and KU, and PPL.
This research was funded in part by the National Science Foundation under Grant No. 1839289, the Department of Education’s GAANN Fellowship Program through the University of Kentucky Electrical and Computer Engineering Department, Louisville Gas and Electric and Kentucky Utilities (LG&E and KU), part of the PPL Corporation family of companies, and of University of Kentucky.
© 2023 by the authors.
- electric power system adequacy
- generation portfolio
- optimal economic dispatch
- renewable energy
- solar PV
- thermal generation
- wind energy
ASJC Scopus subject areas
- Control and Optimization
- Energy (miscellaneous)
- Engineering (miscellaneous)
- Energy Engineering and Power Technology
- Electrical and Electronic Engineering
- Fuel Technology
- Renewable Energy, Sustainability and the Environment