Impact of the Complementarity between Variable Generation Resources and Load on the Flexibility of the Korean Power System

A Comprehensive Review of Recent Advances in Smart Grids: A Sustainable Future with Renewable Energy Resources

The smart grid is an unprecedented opportunity to shift the current energy industry into a new era of a modernized network where the power generation, transmission, and distribution are intelligently, responsively, and cooperatively managed through a bi-directional automation system. Although the domains of smart grid applications and technologies vary in functions and forms, they generally share common potentials such as intelligent energy curtailment, efficient integration of Demand Response, Distributed Renewable Generation, and Energy Storage. This paper presents a comprehensive review categorically on the recent advances and previous research developments of the smart grid paradigm over the last two decades. The main intent of the study is to provide an application-focused survey where every category and sub-category herein are thoroughly and independently investigated. The preamble of the paper highlights the concept and the structure of the smart grids. The work presented intensively and extensively reviews the recent advances on the energy data management in smart grids, pricing modalities in a modernized power grid, and the predominant components of the smart grid. The paper thoroughly enumerates the recent advances in the area of network reliability. On the other hand, the reliance on smart cities on advanced communication infrastructure promotes more concerns regarding data integrity. Therefore, the paper dedicates a sub-section to highlight the challenges and the state-of-the-art of cybersecurity. Furthermore, highlighting the emerging developments in the pricing mechanisms concludes the review.

Economic Feasibility of Underground Pumped Storage Hydropower Plants Providing Ancillary Services

The electricity generated by some renewable energy sources (RESs) is difficult to forecast; therefore, large-scale energy storage systems (ESSs) are required for balancing supply and demand. Unlike conventional pumped storage hydropower (PSH) systems, underground pumped storage hydropower (UPSH) plants are not limited by topography and produce low environmental impacts. In this paper, a deterministic model has been conducted for three UPSH plants in order to evaluate the economic feasibility when considering daily turbine cycle times at full load (DTCs) between 4 and 10 h. In the model, the day-ahead and the ancillary services markets have been compared to maximize the price spread between the electricity generated and consumed. Secondary regulation, deviation management and tertiary regulation services have been analyzed to maximize the income and minimize the cost for purchasing energy. The capital costs of an open-loop UPSH plant have been estimated for the case of using the existing infrastructure and for the case of excavating new tunnels as lower reservoirs. The net present value (NPV), internal rate of return (IRR) and payback period (PB) have been obtained in all scenarios. The results obtained show that the energy generation and the annual generation cycles decrease when the DTC increases from 4 to 10 h, while the NPV and the IRR increase due to investment costs. The investment cost of a 219 MW UPSH plant using the existing infrastructure reaches 366.96 M€, while the NPV, IRR and PB reached 185 M€, 7.10% and 15 years, respectively, participating in the ancillary services markets and considering a DTC of 8 h.

Impact Analysis of Transmission Congestion on Power System Flexibility in Korea

This study proposes a method to evaluate the impact of transmission congestion on the flexibility of a power system, based on the ramping capability shortage expectation (RSE). Here, flexibility refers to the ability to retain a power balance in response to changes in the net load. The flexibility issue arises due to the extensive integration of renewable energy resources; specifically, the higher the degree of integration, and the greater the variability and uncertainty in the power system. Flexibility is further limited by the net transfer capacity (NTC) of transmission lines. Here, we propose a method capable of capturing the extent to which transmission congestion affects the power system, to identify transmission reinforcement options for improved flexibility. In Korea, transmission congestion occurs frequently in regions to the north and southeast. A case study for a Korean power system in 2030 was conducted. Simulation results showed that the impact of transmission reinforcement in flexibility tends to be proportional to the NTC and is greater when the penetration level is low.

Real Levelized Cost of Energy with Indirect Costs and Market Value of Variable Renewables: A Study of the Korean Power Market

A levelized cost of energy (LCOE) is a methodology for comparing power generation costs in the transition to renewable energy (RE). However, the major limitation of evaluating RE based on the LCOE is that it does not consider indirect costs, such as the environmental and curtailment effect. This paper proposes the real LCOE (rLCOE) approach that accounts for indirect and direct generation costs. The mathematical approach to estimating indirect costs is derived from economic theory. The indirect effects, which quantify all benefits generated due to RE, is related to the variability of the share RE in the energy generation mix. The rLCOE enhances the accuracy of the economic comparison of power generation costs and the derivation of the optimal quantities of RE because external effects are incorporated into the LCOE principles. This approach has taken into account electricity demand, fuel prices, and environmental costs for each energy source to adequately compare generation costs. Simulations have been performed to demonstrate the application of the rLCOE approach in the Korean power market. Here, the unit variation of costs with the RE share were analyzed. The results show that indirect cost savings of an additional unit of RE begin to fall in scenario 3 in contrast to the result of LCOE approach indicating higher generation costs with RE share, especially, the proportion of RE in the generation mix is higher than 20%. Thus, the optimal power generation can be evaluated using the rLCOE approach.

Analyzing the Impact of Variability and Uncertainty on Power System Flexibility

This study investigates the impact of variability and uncertainty on the flexibility of a power system. The variability and uncertainty make it harder to maintain the balance between load and generation. However, most existing studies on flexibility evaluation have not distinguished between the effects of variability and uncertainty. The countermeasures to address variability and uncertainty differ; thus, applying strategies individually tailored to variability and uncertainty is helpful for more efficient operation and planning of a power system. The first contribution of this study is in separating the variability and uncertainty, and determining which is more influential in terms of flexibility in specific system situations. A flexibility index, named the ramping capability shortage probability (RSP), is used to quantify the extent to which the variability and uncertainty affect the flexibility. The second contribution is to generate various scenarios for variability and uncertainty based on a modified IEEE-RTS-96, to evaluate the flexibility. The penetration level of renewable energy resources is kept the same in each scenario. The results of a sensitivity analysis show that variability is more effective than uncertainty for high and medium net loads.

Maximizing the Economic Benefits of a Grid-Tied Microgrid Using Solar-Wind Complementarity

The increasing use of intermittent, renewable energy sources (RESs) for electricity generation in microgrids (MGs) requires efficient strategies for reliable and economic operation. Complementarity between RESs provides good prospects for integrating several local energy sources and reducing the costs of MG setup and operations. This paper presents a framework for maximizing the economic benefits of a grid-tied MG by exploiting the spatial and temporal complementarity between solar and wind energies (solar-wind complementarity). The proposed framework considers the cost of energy production from different RESs and the cost of bi-directional energy exchange with the main grid. For a given RES mix, a minimum system power loss (SPL) threshold can also be determined. However, at this SPL threshold, MG energy exchange cost is not always minimized. The framework determines the optimized SPL value (above the threshold) at which MG energy exchange cost gets minimized. Through this framework, MG operator can decide appropriate RES mix and can achieve various tradeoffs according to the energy production cost, solar-wind complementarity of the site and its required economic objectives.

Complementarity Roses Evaluating Spatial Complementarity in Time between Energy Resources

Hybrid energy systems have higher initial costs than systems that are based on only one renewable resource, but allow for the fulfillment of the demands of consumer loads with lower values for the cost of energy. The possible complementarity between the resources used can contribute to a better use of the available energy. On a large scale, complementarity between power plants can serve as a tool for the management of energy resources. A complete evaluation of complementarity needs to consider three components: time complementarity, energy complementarity, and complementarity between amplitudes of variation. Complementarity can also be assessed between energy resources in one place (which may be termed temporal complementarity) and between resources at different sites (termed spatial complementarity). This paper proposes a method for quantifying spatial complementarity over time and for its expression through maps. The method suggests the establishment of a hexagonal network of cells and the determination of complementary roses for each cell that contains power plants. This article also applies the method proposed to some hydroelectric plants and wind farms in the State of Rio Grande do Sul, in southern Brazil, and present the map of spatial complementarity in time obtained.