Use of Solar and Wind as a Physical Hedge against Price Variability within a Generation Portfolio [electronic resource]

• Ngôn ngữ: eng
• Ký hiệu phân loại: 333.79 Energy
• Thông tin xuất bản: Golden, Colo. : Oak Ridge, Tenn. : National Renewable Energy Laboratory (U.S.) ; Distributed by the Office of Scientific and Technical Information, U.S. Dept. of Energy, 2013
• Mô tả vật lý: Size: 50 pp. : , digital, PDF file.
• Bộ sưu tập: Metadata
• ID: 258899
• Chủ đề: 1. 14 solar energy; 2. 17 wind energy; 3. 24 power transmission and distribution; 4. 32 energy conservation, consumption, and utilization; 5. Renewable energy penetration

Tóm tắt

This study provides a framework to explore the potential use and incremental value of small- to large-scale penetration of solar and wind technologies as a physical hedge against the risk and uncertainty of electricity cost on multi-year to multi-decade timescales. Earlier studies characterizing the impacts of adding renewable energy (RE) to portfolios of electricity generators often used a levelized cost of energy or simplified net cash flow approach. In this study, we expand on previous work by demonstrating the use of an 8760 hourly production cost model (PLEXOS) to analyze the incremental impact of solar and wind penetration under a wide range of penetration scenarios for a region in the Western U.S. We do not attempt to 'optimize' the portfolio in any of these cases. Rather we consider different RE penetration scenarios, that might for example result from the implementation of a Renewable Portfolio Standard (RPS) to explore the dynamics, risk mitigation characteristics and incremental value that RE might add to the system. We also compare the use of RE to alternative mechanisms, such as the use of financial or physical supply contracts to mitigate risk and uncertainty, including consideration of their effectiveness and availability over a variety of timeframes.