Comparison of Risk Analysis Approaches and a Case Study of the Risk of Incorporating Solar Photovoltaic Systems into a Commercial Electric Power Grid

Andrea Chaves and A. Terry Bahill

Systems Engineering, 2014, vol. 17, issue 1, 89-111

Abstract: This paper compares two common risk‐modeling approaches and then uses them to analyze the risk of incorporating solar photovoltaic (PV) systems into a commercial electric power grid. It uses procedures from both approaches such as Hierarchical Holographic Models, frequency and severity normalization, and avoiding numerical skewing by rare but serious events: It describes the benefits and limitations of these approaches. Then, this paper summarizes the main risks associated with incorporating Solar PV panel systems into a commercial electric power grid, presents a what‐if analysis for extreme scenarios, and explains mitigation strategies to ameliorate these risks. Finally, the paper points out some possible unintended consequences of incorporating Solar PV systems into a commercial electric power grid.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:wly:syseng:v:17:y:2014:i:1:p:89-111

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