TY - GEN
T1 - Co-planning of generation and transmission capacity based on portfolio theory
AU - Zhang, Yue
AU - Wang, Xiuli
AU - Zhang, Wentao
AU - Wu, Zechen
AU - Zhang, Zece
AU - Qiang, Cui
N1 - Publisher Copyright:
© 2016 IEEE.
PY - 2016/12/9
Y1 - 2016/12/9
N2 - Electric sector is confronting with ever increasing challenges. On one hand, due to fossil fuel depletion and environmental pollution problems, generation investment needs to be considered in more volatile and risky context. On the other hand, with augmenting multinational grid interconnection and power exchanges, cross-border transmission and generation investment becomes mutually dependent. In response to these challenges, this paper proposes a generation and transmission capacity co-optimization model on the basis of mean-variance portfolio theory. The model minimizes average generating cost while controlling the risk under a certain level via adjusting proportion of different generation and cross-border transmission facilities. China's portfolio in the year of 2030 is studied. Numerical results indicate that current China's portfolio, principally relied on thermal generation, is exposed to high risk. Diversification of portfolio, larger share of renewable energy and grid interconnection can contribute to risk reduction.
AB - Electric sector is confronting with ever increasing challenges. On one hand, due to fossil fuel depletion and environmental pollution problems, generation investment needs to be considered in more volatile and risky context. On the other hand, with augmenting multinational grid interconnection and power exchanges, cross-border transmission and generation investment becomes mutually dependent. In response to these challenges, this paper proposes a generation and transmission capacity co-optimization model on the basis of mean-variance portfolio theory. The model minimizes average generating cost while controlling the risk under a certain level via adjusting proportion of different generation and cross-border transmission facilities. China's portfolio in the year of 2030 is studied. Numerical results indicate that current China's portfolio, principally relied on thermal generation, is exposed to high risk. Diversification of portfolio, larger share of renewable energy and grid interconnection can contribute to risk reduction.
KW - Portfolio theory
KW - generation and transmission capacity optimization
KW - renewable energy
UR - https://www.scopus.com/pages/publications/85010004907
U2 - 10.1109/APPEEC.2016.7779601
DO - 10.1109/APPEEC.2016.7779601
M3 - 会议稿件
AN - SCOPUS:85010004907
T3 - Asia-Pacific Power and Energy Engineering Conference, APPEEC
SP - 780
EP - 784
BT - IEEE PES APPEEC 2016 - 2016 IEEE PES Asia Pacific Power and Energy Engineering Conference
PB - IEEE Computer Society
T2 - 2016 IEEE PES Asia Pacific Power and Energy Engineering Conference, APPEEC 2016
Y2 - 25 October 2016 through 28 October 2016
ER -
