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In view of the uncertainty and intermittency of wind power, this paper proposes an optimal economical dispatch (ED) model and develops a method to estimate risk and manage hybrid power systems (traditional + wind power systems) for the short-term (24 h) operations. The model and the method have taken into account the large wind power penetration and the wind variability. The particle swarm optimization...
This paper presents two alternative electric market structures that increase market efficiency and reduce the cost of implementing RPS mandates. A review of existing market operation and the structure of RPS mandates provides necessary context. One alternative market structure combines a parallel market for stochastic renewable energy with incremental power flow control based on emerging power electronic...
We explore the possibility of directly coupling deferrable loads with wind generators in order to mitigate the variability and randomness of wind power generation. Loads engage in a contractual agreement of deferring their demand for power by a fixed amount of time and wind generators optimally allocate available wind power with the objective of minimizing the cost of unscheduled and variable supply...
The worldwide rapid increase in wind energy conversion-based generation necessitates additional study of the economic implications of wind plant integration. Market-based economic evaluations provide meaningful insight into the effects of integration on energy prices, revenue and revenue components to various market participants. To date, the methodologies for the modeling and evaluation have been...
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