Pregled bibliografske jedinice broj: 1208253
A Possible Method Of Optimization Of Intermittent Renewable Sources Planning Policy For Minimized External Costs Of Variability
A Possible Method Of Optimization Of Intermittent Renewable Sources Planning Policy For Minimized External Costs Of Variability // Proceedings of FEB Zagreb International Odyssey Conference on Economics and Business / Načinović Braje, Iva ; Jaković, Božidar ; Ferjanić Hodak, Danijela (ur.).
Zagreb: Ekonomski fakultet Sveučilišta u Zagrebu, 2021. str. 426-438 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)
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Naslov
A Possible Method Of Optimization Of Intermittent
Renewable Sources Planning Policy For Minimized
External Costs Of Variability
Autori
Sabolić, Dubravko ; Ćurić, Iljko
Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni
Izvornik
Proceedings of FEB Zagreb International Odyssey Conference on Economics and Business
/ Načinović Braje, Iva ; Jaković, Božidar ; Ferjanić Hodak, Danijela - Zagreb : Ekonomski fakultet Sveučilišta u Zagrebu, 2021, 426-438
Skup
12th FEB Zagreb International Odyssey Conference on Economics and Business
Mjesto i datum
Šibenik, Hrvatska; online, 09.06.2021. - 12.06.2021
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
Renewable energy production, wind plants, external cost of variability, portfolio optimization, planning policy.
Sažetak
In this article, a possible approach to the minimization of a specific form of intermittent renewable sources externality, the cost of balancing the production variability, using the portfolio theory is discussed. This externality is shifted to the final consumers of electricity through the transmission system operator’s (TSO) tariff. It is possible to employ portfolio optimization concepts because of the formal similarity between the two problems. After a literature review and the formulation of the optimization problem, a sub-set of the results obtained from simulations based on the real-life measured production time-series data from a multi- site system of wind plants is presented. The optimization procedures were carried out concerning different goal functions to account for the non-normality of the energy production from the wind plants. In general, the choice of more windy (and thus, more volatile) sites seems to be desired regarding the trade-off between the marginal loss of total load factor and decreased total variability costs. The results also suggest that this trade-off is harsher when the goal function is the probability of the hourly change in production exceeding a certain level, than when it is the standard deviation. This is essentially a combined consequence of the wind energy production non-normality, with fat-tailed distributions, and temporal volatility.
Izvorni jezik
Engleski
Znanstvena područja
Elektrotehnika, Ekonomija
