Model-based analysis for scenarios with high penetration of renewables

Achieving carbon neutron targets lead the energy generation structure towards high renewable energy share. As the PV and wind capacity is increasing rapidly across the world, the impacts on the grid system due to the characteristics of variability and uncertainty become more visible and more severe. Those impacts include voltage and frequency fluctuation, unbalance thus threatening the stability and reliability of power systems. Therefore, some solutions aiming to increase the stability and reliability of power systems are sought under this background. However, before developing the solutions, the metric that could evaluate the impacts of variable renewable energy (VRE) need to be confirmed. Focusing on the impacts of VRE on the power system, we could find those impacts mainly come from the attributes of variability and uncertainty that VRE own. In a sense, the concept of system costs has been recently developed that could capture the impacts of VRE on the whole system. Similarly, the concept “market value”, first proposed by Hirth, is affected by three intrinsic technological properties: variability, uncertainty and location. Therefore, these metrics were used to analyze the influence of the penetration level on the power system and find possible solutions adapted to new challenges related to technology and the market model. Against this background, a scenario-based analysis is conducted to evaluate the market values of VRE based on some assumptions which will be explained later.