Cost-Effective Wind Energy Utilization for Reliable Power Supply

Abstract

Environmental concerns and fuel cost uncertainties associated with the use of conventional energy sources have resulted in rapid growth of wind energy applications in power generating systems. It is important to assess the actual cost and benefit of utilizing wind energy in a power system. Such assessments require realistic cost/reliability evaluation methods and quantitative indices. This paper presents a simulation technique that generates probabilistic indices that can help determine appropriate wind power penetration in an existing power system from both the reliability and economic aspects.