22Capacity Value Assessments of Wind Power
Michael Milligan1, Bethany Frew1, Eduardo Ibanez2, Juha Kiviluoma3, Hannele Holttinen3 and Lennart Söder4
1 National Renewable Energy Laboratory, Golden, CO, USA
2 General Electric (GE) Energy Consulting, Schenectady, NY, USA
3 Valtion Teknillinen Tutkimuskeskus (VTT), Espoo, Finland
4 Royal Institute of Technology, Stockholm, Sweden
This chapter describes some of the recent research into the capacity value of wind power. With the worldwide increase in wind power during the past several years, there is increasing interest and significance regarding its capacity value because this has a direct influence on the amount of other (nonwind) capacity that is needed. We build on previous reviews from IEEE and International Energy Agency (IEA) Wind Task 251 and examine recent work that evaluates the impact of multiple‐year data sets and the impact of interconnected systems on resource adequacy. We also provide examples that explore the use of alternative reliability metrics for wind capacity value calculations. We show how multiple‐year data sets significantly increase the robustness of results compared to single‐year assessments. Assumptions regarding the transmission interconnections play a significant role. To date, results regarding which reliability metric to use for probabilistic capacity valuation show little sensitivity to the metric.
INTRODUCTION
During the past several years, there has been a significant increase in the level of ...