Reliability and cost/worth evaluation of generating systems utilizing wind and solar energy

Abstract

The utilization of renewable energy resources such as wind and solar energy for electric power supply has received considerable attention in recent years due to adverse environmental impacts and fuel cost escalation associated with conventional generation. At the present time, wind and/or solar energy sources are utilized to generate electric power in many applications. Wind and solar energy will become important sources for power generation in the future because of their environmental, social and economic benefits, together with public support and government incentives. The wind and sunlight are, however, unstable and variable energy sources, and behave far differently than conventional sources. Energy storage systems are, therefore, often required to smooth the fluctuating nature of the energy conversion system especially in small isolated applications. The research work presented in this thesis is focused on the development and application of reliability and economic benefits assessment associated with incorporating wind energy, solar energy and energy storage in power generating systems. A probabilistic approach using sequential Monte Carlo simulation was employed in this research and a number of analyses were conducted with regards to the adequacy and economic assessment of generation systems containing wind energy, solar energy and energy storage. The evaluation models and techniques incorporate risk index distributions and different operating strategies associated with diesel generation in small isolated systems. Deterministic and probabilistic techniques are combined in this thesis using a system well-being approach to provide useful adequacy indices for small isolated systems that include renewable energy and energy storage. The concepts presented and examples illustrated in this thesis will help power system planners and utility managers to assess the reliability and economic benefits of utilizing wind energy conversion systems, solar energy conversion systems and energy storage in electric power systems and provide useful input to the managerial decision process.