On representation of temporal variability in electricity capacity planning models

James H. Merrick

Energy Economics, 2016, vol. 59, issue C, 261-274

Abstract: This paper systematically investigates how to represent intra-annual temporal variability in models of optimum electricity capacity investment. Inappropriate aggregation of temporal resolution can introduce substantial error into model outputs and associated economic insight. The mechanisms underlying the introduction of this error are shown. How many representative periods are needed to fully capture the variability is then investigated. For a sample dataset, a scenario-robust aggregation of hourly (8760) resolution is possible in the order of 10 representative hours when electricity demand is the only source of variability.

Keywords: Electricity; Investment; Optimisation; Variability; Renewables (search for similar items in EconPapers)
JEL-codes: C61 C65 L94 Q42 Q48 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (53)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:59:y:2016:i:c:p:261-274

DOI: 10.1016/j.eneco.2016.08.001

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