Valuing variable renewable energy for peak demand requirements

Zhou, Ella; Cole, Wesley; Frew, Bethany

doi:10.1016/j.energy.2018.09.009

Cited by 60 publications

(21 citation statements)

References 40 publications

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“…To obviate this concern, resource planning models might use multiple years of resource data (Shaner et al 2018) or select a 'worse' year for evaluating renewable energy capacity value. While small errors in capacity values might have little impact on overall capacity planning results, large misestimates can lead to significant changes in capacity buildout and anticipated costs (Zhou et al 2018). More sophisticated probabilistic models (Dent et al 2016) can be used to validate planning model results.…”

Section: Discussionmentioning

confidence: 99%

Inter-annual variability of wind and solar electricity generation and capacity values in Texas

Kumler

Carreño

Craig

et al. 2019

Environ. Res. Lett.

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As power systems shift towards increasing wind and solar electricity generation, inter-annual variability (IAV) of wind and solar resource and generation will pose increasing challenges to power system planning and operations. To help gauge these challenges to the power system, we quantify IAV of wind and solar resource and electricity generation across the Electric Reliability Council of Texas (ERCOT) power system, then assess the IAV of wind and solar electricity generation during peak-load hours (i.e. IAV of wind and solar capacity values) for the current ERCOT wind and solar generator fleet. To do so, we leverage the long timespan of four reanalysis datasets with the high resolution of grid integration datasets. We find the IAV (quantified as the coefficient of variation) of wind generation ranges from 2.3%-11% across ERCOT, while the IAV of solar generation ranges from 1.7%-5% across ERCOT. We also find significant seasonal and regional variability in the IAV of wind and solar generation, highlighting the importance of considering multiple temporal and spatial scales when planning and operating the power system. In addition, the IAV of the current wind and solar fleets' capacity values (defined as generation during peak-load hours) are larger than the IAV of the same fleets' capacity factors. IAV of annual generation and capacity values of wind and solar could impact operations and planning in several ways, e.g. through annual emissions, meeting emission reduction targets, and investment needs to maintain capacity adequacy.

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Section: Discussionmentioning

confidence: 99%

Inter-annual variability of wind and solar electricity generation and capacity values in Texas

Kumler

Carreño

Craig

et al. 2019

Environ. Res. Lett.

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“…Many renewable energy prediction studies began in 2000 (Tsai et al, 2017). Because of the uncertainty of renewable energy (Notton et al, 2018), the perspective of its prediction is diversified, which prompts each study to selectively consider different factors in its prediction, such as traditional energy (Nadimi and Tokimatsu, 2017), nuclear energy (Kok and Benli, 2017), policy (Black et al, 2014), installed capacity (Zhou et al, 2018), technology (Ruedabayona et al, 2019), and economy (Ozcan and Ozturk, 2019). Therefore, it is very difficult to accurately summarize and classify existing studies, but summarizing and reviewing existing studies is helpful to highlight the characteristics of this study.…”

Section: Selection Of Relevant Indicators For Renewable Energy Predicmentioning

confidence: 99%

Renewable Energy and Material Supply Risks: a Predictive Analysis Based on An LSTM Model

et al. 2020

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In response to climate change and continued reliance on traditional high-carbon fossil fuels, promoting the transition toward sustainable energy systems by development of low-carbon energy resources has been seen as the main strategy for mitigating and solving global climate change. However, the promotion of low-carbon energy also faces material supply risks. To provide a reference for the steady and rapid development of renewable energy and other energy in the future energy market, this paper considers renewable energy prediction based on a long-and short-term memory network model as well as the growth rate changes of crude oil, natural gas, nuclear energy, financial revenues, and expenditure. In the prediction process, it is found that natural gas will be a strong competitor for the development of renewable energy in the future. When natural gas grows too quickly, the growth of renewable energy will be negative. On the other hand, when the monthly growth rate of natural gas and crude oil is smaller than that of nuclear energy, renewable energy will display a growth trend, and the rate will increase with the growth of natural gas and nuclear energy. What is more, wind and solar energy will be limited by metallic materials, such as Dy, Nd, Te, and In. Improving the energy density of metals plays a key role in China's transition to a low-carbon energy structure.

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“…The 134 balancing areas also face system reliability constraints, such as operating reserve and planning reserve requirements to ensure grid reliability and adequate capacity exists to meet peak demand, respectively. Technology-specific curtailment rates are computed in a submodule that accounts for the availability of a resource, and technology-specific capacity credit (the potential contribution to the planning reserve margin) is computed in a submodule that computes a technology's availability in peak net load hours (Zhou, Cole, and Frew 2018). Figure 16 shows the U.S. regions as represented in ReEDS.…”

Section: Hydrogenmentioning

confidence: 99%

Flexible Nuclear Energy for Clean Energy Systems

Bragg‐Sitton

Gorman

Burton

et al. 2020

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This commitment is reflected in our continued support of technology development and innovation in our current and future energy systems. Our organizations have each supported a variety of research and development activities and initiatives in collaboration with national laboratories, academia, and industry partners that explore and utilize different technologies to meet a variety of energy demands. Nuclear energy is an important part of the global clean energy supply, providing nearly one-third of the world's non-emitting electricity and complementing and enabling other clean energy sources, including renewables. Recognizing this current and future potential for nuclear energy, the Nuclear Innovation: Clean Energy Future (NICE Future) initiative was launched in 2018 at the Ninth CEM in Copenhagen, Denmark. Since its launch, the NICE Future initiative has succeeded in initiating broad, cross-sectoral dialogue among CEM member countries to highlight the roles that nuclear energy can play in bolstering economic growth, energy security, and access, and environmental stewardship. This includes exploring and building awareness about how innovative nuclear energy technologies across both large and small-scale applications, such as small modular reactors (SMRs) and other advanced reactors, can drive clean growth. To explore and communicate the increasingly flexible roles that nuclear energy technologies can play in integrated clean energy systems of the future, the NICE Future initiative proudly launched the Flexible Nuclear Campaign for Nuclear-Renewables Integration (Flexible Nuclear Campaign) at the 10 th CEM in Vancouver, Canada in 2019. The International Energy Agency's (IEA's) 2019 World Energy Outlook forecasts that electricity generation from variable renewables could range from 36% to 67% by 2040. As more renewables connect to the grid, many countries are developing innovative options to employ more flexible operation of traditional and base load energy sources, like nuclear, to produce electricity and heat to meet demand. This report brought together experts from around the globe to share expertise and study opportunities for innovative and advanced nuclear systems to operate flexibly and work in tandem with renewables, contributing to clean energy systems of the future. As demonstrated in technical analyses summarized in this report, nuclear energy offers flexibility in certain electricity markets around the world, and new nuclear technologies could extend the versatility of nuclear energy systems further. At its most basic, nuclear energy can operate flexibly by ramping power output up or down to match grid demand; however, nuclear energy's services extend beyond just electricity generation. Around the world, research is underway to explore how nuclear systems can use generated thermal

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Valuing variable renewable energy for peak demand requirements

Cited by 60 publications

References 40 publications

Inter-annual variability of wind and solar electricity generation and capacity values in Texas

Inter-annual variability of wind and solar electricity generation and capacity values in Texas

Renewable Energy and Material Supply Risks: a Predictive Analysis Based on An LSTM Model

Flexible Nuclear Energy for Clean Energy Systems

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