A Risk-Averse Approach for Distribution Grid Expansion Planning

Alexandre Moreira, Miguel Heleno and Alan Valenzuela
Additional contact information
Alexandre Moreira: Lawrence Berkeley National Laboratory, 1 Cyclotron Rd, Berkeley, CA 94720, USA
Miguel Heleno: Lawrence Berkeley National Laboratory, 1 Cyclotron Rd, Berkeley, CA 94720, USA
Alan Valenzuela: Lawrence Berkeley National Laboratory, 1 Cyclotron Rd, Berkeley, CA 94720, USA

Energies, 2021, vol. 14, issue 24, 1-21

Abstract: Recent episodes of natural disasters have challenged the resilience of power grids. Adequate distribution grid planning that properly captures the risk aversion of the utility system planner is a key factor to increase the flexibility of distribution networks to circumvent these events. In this paper, we propose a methodology to determine the optimal portfolio of investments in lines and storage devices in order to minimize a convex combination between expected value and CVaR of operational costs, including energy not served, while taking into account the multistage nature of the energy storage management within this context. While the expected value of energy not served has been traditionally employed to tackle routine failures, we also minimize the CVaR of energy not served to address high-impact, low-probability (HILP) events. We illustrate the performance of the proposed methodology with a 54-Bus system test case.

Keywords: nested Benders; dynamic programming; distribution expansion planning; risk aversion (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/1996-1073/14/24/8482/pdf (application/pdf)
https://www.mdpi.com/1996-1073/14/24/8482/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:14:y:2021:i:24:p:8482-:d:703443

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().