A Service Cost-Base Supply Balance of Sustainable Power Generation

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Author(s): Junzo Watada (Waseda University, Japan), Haydee Rocio Melo (Waseda University, Japan)and Jaeseok Choi (Gyeongsang National University, South Korea)
Copyright: 2016
Pages: 23
Source title: Handbook of Research on Modern Optimization Algorithms and Applications in Engineering and Economics
Source Author(s)/Editor(s): Pandian Vasant (University of Technology Petronas, Malaysia), Gerhard-Wilhelm Weber (Middle East Technical University, Turkey)and Vo Ngoc Dieu (Ho Chi Minh City University of Technology, Vietnam)
DOI: 10.4018/978-1-4666-9644-0.ch016

Keywords: Algorithms / Artificial Intelligence / Computer Science & IT / Information Science Reference

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Abstract

Recently, renewable power sources such as WTG and PV have become viable economic options for generating sustainable energy. However, WTG and PV have an inconstant power production problem. To solve this problem, multi-state models have been proposed. The electricity generated from these units varies with different time scales: hourly, daily and seasonally. Since planning an optimal size generates cost losses to the customer, three models should be built: a load model, generation model, and service cost model. Loss of energy expectation (LOEE) and loss of load expected (LOLE) are calculated for the load and generation model. The reliability value is calculated to determine the number of required renewable generators. As a result, the system is constructed to have sufficient capacity, and the utility cost became the main objective of the total service costs.

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A Service Cost-Base Supply Balance of Sustainable Power Generation

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