Risk-averse stochastic dual dynamic programming approach for the operation of a hydro-dominated power system in the presence of wind uncertainty
Operation planning models for hydro-dominated power systems usually use low temporal resolutions due to the excessive computational burden, thus ignoring short-term characteristics of such systems. As a result, in systems coupled with wind energy, such models may fail to accurately capture wind vari...
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2020
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Acceso en línea: | https://repository.urosario.edu.co/handle/10336/24345 https://doi.org/10.1016/j.ijepes.2019.105469 |
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ir-10336-243452022-05-02T12:37:17Z Risk-averse stochastic dual dynamic programming approach for the operation of a hydro-dominated power system in the presence of wind uncertainty Morillo, José L. Zéphyr, Luckny Pérez, Juan F. Anderson, C. Lindsay Cadena, Ángela Electric batteries Risk analysis Risk assessment Risk perception Stochastic systems Wind power Chance constraint Hydro-dominated systems Operation planning Risk aversion Stochastic dual dynamic programming Dynamic programming Chance-constraint Hydro-dominated system Operation planning Risk aversion Stochastic dual dynamic programming Operation planning models for hydro-dominated power systems usually use low temporal resolutions due to the excessive computational burden, thus ignoring short-term characteristics of such systems. As a result, in systems coupled with wind energy, such models may fail to accurately capture wind variability, and may not appropriately take into account potential consequences of uncertainty on the system operation. This paper addresses this drawback by (i) “controlling” the cost associated with the operation of a hydro-dominated power system equipped with wind power and batteries via a risk-measure and (ii) formulating the short-term load balance as probabilistic constraints in order to hedge against potential extreme wind power scenarios. The risk-averse scheme is embedded in the stochastic dual dynamic programming framework. Simulation results for a case study on a real industrial setting show that hedging the system against the short-term volatility of wind power contributes to mitigating the risk of excessive operations costs or load curtailments, and that the consideration of the decision maker risk profile contributes to decreasing the variability of the solutions. In addition, the results of the application also illustrate the potential of the scheme to assess the energy situation of a country or a region under the penetration of wind energy and batteries deployment. © 2019 Elsevier Ltd 2020 2020-05-26T00:11:56Z info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion 1420615 https://repository.urosario.edu.co/handle/10336/24345 https://doi.org/10.1016/j.ijepes.2019.105469 eng info:eu-repo/semantics/openAccess application/pdf Elsevier Ltd instname:Universidad del Rosario |
institution |
EdocUR - Universidad del Rosario |
collection |
DSpace |
language |
Inglés (English) |
topic |
Electric batteries Risk analysis Risk assessment Risk perception Stochastic systems Wind power Chance constraint Hydro-dominated systems Operation planning Risk aversion Stochastic dual dynamic programming Dynamic programming Chance-constraint Hydro-dominated system Operation planning Risk aversion Stochastic dual dynamic programming |
spellingShingle |
Electric batteries Risk analysis Risk assessment Risk perception Stochastic systems Wind power Chance constraint Hydro-dominated systems Operation planning Risk aversion Stochastic dual dynamic programming Dynamic programming Chance-constraint Hydro-dominated system Operation planning Risk aversion Stochastic dual dynamic programming Morillo, José L. Zéphyr, Luckny Pérez, Juan F. Anderson, C. Lindsay Cadena, Ángela Risk-averse stochastic dual dynamic programming approach for the operation of a hydro-dominated power system in the presence of wind uncertainty |
description |
Operation planning models for hydro-dominated power systems usually use low temporal resolutions due to the excessive computational burden, thus ignoring short-term characteristics of such systems. As a result, in systems coupled with wind energy, such models may fail to accurately capture wind variability, and may not appropriately take into account potential consequences of uncertainty on the system operation. This paper addresses this drawback by (i) “controlling” the cost associated with the operation of a hydro-dominated power system equipped with wind power and batteries via a risk-measure and (ii) formulating the short-term load balance as probabilistic constraints in order to hedge against potential extreme wind power scenarios. The risk-averse scheme is embedded in the stochastic dual dynamic programming framework. Simulation results for a case study on a real industrial setting show that hedging the system against the short-term volatility of wind power contributes to mitigating the risk of excessive operations costs or load curtailments, and that the consideration of the decision maker risk profile contributes to decreasing the variability of the solutions. In addition, the results of the application also illustrate the potential of the scheme to assess the energy situation of a country or a region under the penetration of wind energy and batteries deployment. © 2019 Elsevier Ltd |
format |
Artículo (Article) |
author |
Morillo, José L. Zéphyr, Luckny Pérez, Juan F. Anderson, C. Lindsay Cadena, Ángela |
author_facet |
Morillo, José L. Zéphyr, Luckny Pérez, Juan F. Anderson, C. Lindsay Cadena, Ángela |
author_sort |
Morillo, José L. |
title |
Risk-averse stochastic dual dynamic programming approach for the operation of a hydro-dominated power system in the presence of wind uncertainty |
title_short |
Risk-averse stochastic dual dynamic programming approach for the operation of a hydro-dominated power system in the presence of wind uncertainty |
title_full |
Risk-averse stochastic dual dynamic programming approach for the operation of a hydro-dominated power system in the presence of wind uncertainty |
title_fullStr |
Risk-averse stochastic dual dynamic programming approach for the operation of a hydro-dominated power system in the presence of wind uncertainty |
title_full_unstemmed |
Risk-averse stochastic dual dynamic programming approach for the operation of a hydro-dominated power system in the presence of wind uncertainty |
title_sort |
risk-averse stochastic dual dynamic programming approach for the operation of a hydro-dominated power system in the presence of wind uncertainty |
publisher |
Elsevier Ltd |
publishDate |
2020 |
url |
https://repository.urosario.edu.co/handle/10336/24345 https://doi.org/10.1016/j.ijepes.2019.105469 |
_version_ |
1740172564148256768 |
score |
12,131701 |