Strategic valuation of smart grid technology options in distribution networks
File(s)
Accepted version
Author(s)
Konstantelos, I
Giannelos, S
Strbac, G
Type
Journal Article
Abstract
The increasing penetration of renewable
distributed generation (DG) sources in distribution networks can
lead to violations of network constraints. Thus, significant
network reinforcements may be required to ensure that DG
output is not constrained. However, the uncertainty around the
magnitude, location and timing of future DG capacity renders
planners unable to take fully-informed decisions and integrate
DG at a minimum cost. In this paper we propose a novel
stochastic planning model that considers investment in
conventional assets as well as smart grid assets such as demandside
response, coordinated voltage control and soft open points
(SOPs). The model also considers the possibility of active power
generation curtailment of the DG units. A node-variable
formulation has been adopted to relieve the substantial
computational burden of the resulting mixed integer non-linear
programming (MINLP) problem. A case study shows that smart
technologies can possess significant strategic value due to their
inherent flexibility in dealing with different system evolution
trajectories. This latent benefit remains undetected under
traditional deterministic planning approaches which may hinder
the transition to the smart grid.
distributed generation (DG) sources in distribution networks can
lead to violations of network constraints. Thus, significant
network reinforcements may be required to ensure that DG
output is not constrained. However, the uncertainty around the
magnitude, location and timing of future DG capacity renders
planners unable to take fully-informed decisions and integrate
DG at a minimum cost. In this paper we propose a novel
stochastic planning model that considers investment in
conventional assets as well as smart grid assets such as demandside
response, coordinated voltage control and soft open points
(SOPs). The model also considers the possibility of active power
generation curtailment of the DG units. A node-variable
formulation has been adopted to relieve the substantial
computational burden of the resulting mixed integer non-linear
programming (MINLP) problem. A case study shows that smart
technologies can possess significant strategic value due to their
inherent flexibility in dealing with different system evolution
trajectories. This latent benefit remains undetected under
traditional deterministic planning approaches which may hinder
the transition to the smart grid.
Date Issued
2016-07-09
Date Acceptance
2016-07-09
Citation
IEEE Transactions on Power Systems, 2016, 32 (2), pp.1293-1303
ISSN
0885-8950
Publisher
IEEE
Start Page
1293
End Page
1303
Journal / Book Title
IEEE Transactions on Power Systems
Volume
32
Issue
2
Copyright Statement
© 2016 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
Sponsor
Engineering & Physical Science Research Council (E
Engineering & Physical Science Research Council (EPSRC)
Grant Number
EP/I031650/1
EP/K036327/1
Subjects
Science & Technology
Technology
Engineering, Electrical & Electronic
Engineering
Coordinated voltage control (CVC)
demand side response (DSR)
soft-open point (SOP)
strategic value
stochastic optimization
OPTIMAL POWER-FLOW
DISTRIBUTION-SYSTEMS
GENERATION
MANAGEMENT
BENEFITS
0906 Electrical And Electronic Engineering
Energy
Publication Status
Published