Abstract
Investment planning models inform investment decisions and government policies. Current models do not capture the intermittent nature of renewable energy sources, restricting the applicability of the models for high penetrations of renewables. We provide a methodology to capture spatial variation in wind output in combination with transmission constraints. The representation of wind distributions using stochastic approaches or using extensive historic data sets exceeds computational constraints for real world application. Hence we restrict the amount of input data, and use bootstrapping to illustrate the robustness of the results. For the UK power system we model wind deployment and the value of transmission capacity.
Cite as
Karsten Neuhoff, Andreas Ehrenmann, Lucy Butler, James Cust, Harriet Hoexter, Kim Keats, Adam Kreczko and Graham Sinden (2008). "Space and Time: Wind in an Investment Planning Model." Energy Economics 30(4): 1990–2008. https://doi.org/10.1016/j.eneco.2007.07.009