Space and Time: Wind in an Investment Planning Model

Karsten Neuhoff (kneuhoff@diw.de), Andreas Ehrenmann, Lucy Butler, James Cust, Harriet Hoexter, Kim Keats, Adam Kreczko and Graham Sinden

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

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 with stochastic approaches or an extensive historic data set would exceed computational constraints for real world application. Hence we restrict the amount of input data, and use boot-strapping to illustrate the robustness of the results. For the UK power system we model wind deployment and the value of transmission capacity.

Keywords: Investment planning model; Wind distribution; Electricity transmission; Renewables (search for similar items in EconPapers)
JEL-codes: C53 C61 L94 O21 (search for similar items in EconPapers)
Pages: 20
Date: 2006-02
New Economics Papers: this item is included in nep-ene
Note: IO
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Related works:
Journal Article: Space and time: Wind in an investment planning model (2008)
Working Paper: Space and Time: Wind in an Investment Planning Model (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:cam:camdae:0620

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