Generation Expansion Planning Considering Discrete Storage Model and Renewable Energy Uncertainty: A Bi-Interval Optimization Approach

Abstract

Both discrete storage model (DSM) and continuous storage model (CSM) have been used in the power system planning literature. In this work, we conduct a sizing-error analysis for the use of CSM in generation expansion planning (GEP), which shows more reasonable storage sizing decisions are offered by the DSM in comparison to the CSM. However, when the DSM is considered in the context of interval optimization, the discrete status variables in mutually exclusive constraints and the strong temporal coupling in state-of-charge (SOC) constraints create significant challenges. To tackle this, a tailored interval optimization approach is proposed to consider both DSM and renewable energy uncertainty in GEP. Our approach is proved to cover all worst cases in a given uncertainty set, meanwhile running in an iteration-free manner. Moreover, to reduce the conservativeness of investment decisions, a bi-interval policy is designed to achieve a better trade-off between investment cost and system security.

Department(s)

Electrical and Computer Engineering

Keywords and Phrases

Costs; Energy Storage; Energy Storage; Generation Expansion Planning; Generators; Interval Optimization; Investment; Planning; Renewable Energy Sources; Renewable Energy Uncertainty; Uncertainty

International Standard Serial Number (ISSN)

1941-0050; 1551-3203

Document Type

Article - Journal

Document Version

Citation

File Type

text

Language(s)

English

Rights

© 2022 Institute of Electrical and Electronics Engineers, All rights reserved.

Publication Date

01 Jan 2022

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