An improved generation planning method incorporating renewable energy policy

This paper introduces a generation expansion planning (GEP) method which incorporates renewable energy policies and evaluates their effects. A robust and flexible heuristic algorithm is applied to solve the GEP problem. Renewable energy policies are categorized into two groups: policy orientation and economic measures, according to their implementation methods. For each kind of policy, a model fully considering its characteristics is established, and a complementation method is comprised in GEP decision making process. Effects of different renewable energy policies on system indices are analyzed and compared with each other, like renewable energy portfolio, reliability, total investment and operation costs. Case studies show that under different renewable energy policies, an economical and reliable generation expansion plan can be achieved. Results may provide information and suggestions for researchers or policy makers.