A dynamic model for distributed energy resource expansion planning considering multi-resource support schemes |
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| Affiliation: | 1. Griffith School of Engineering, Gold Coast Campus, Griffith University, QLD 4222, Australia;2. School of Civil, Mining and Environmental Engineering, University of Wollongong, NSW 2522, Australia;1. Department of Mechanical Engineering, University of Akron, Akron, OH 44325, USA;2. Department of Materials Science and Engineering, Case Western Reserve University, Cleveland, OH 44106, USA;3. NASA Glenn Research Center, Cleveland, OH 44135, USA;1. Department of Industrial and Systems Engineering, Mississippi State University, Mississippi State, MS 39762, USA;2. Department of Operational Sciences, Graduate School of Engineering & Management, Air Force Institute of Technology, Wright-Patterson AFB, OH 45433-7765, USA;3. School of Computing, Informatics, Decision Systems Engineering, Arizona State University, Tempe, AZ 85287-5906, USA;1. School of Mathematics and Statistics, Hubei Normal University, Huangshi 435002, China;2. Faculty of Physics, Adam Mickiewicz University, ul. Uniwersytetu Poznańskiego 2, PL 61-614 Poznań, Poland;3. Faculty of Sciences and Mathematics, University of Ni?, 18000 Ni?, Serbia |
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| Abstract: | In this paper, a system dynamics based model is developed to investigate the impacts of multi-resource regulatory policies on distributed energy resource (DER) expansion planning. DERs usually include a variety of renewable and fossil based generation technologies such as wind and gas engine resources, combined heat and power (CHP), demand response (DR) and energy storage. The intermittent nature and uncertainty in power generation of some of these resources and other uncertainties that exist in the market environment would cause investors to encounter risk in their investment decisions. Implementation of any supporting policy affects any investor’s behavior and investment level of other investors. Regulators should properly identify long-term impacts of their support policies in the energy resource expansion in order to choose a proper support scheme. These support schemes should ensure the long-term market stability. It is important for a DER investor to properly identify his/her long-term investment behavior to select an appropriate strategy. In this paper, the system dynamics method is used to investigate these issues. The impacts of various multi-resource regulatory policies on market dynamics are modeled and compared with the single-resource support schemes ones. In this study, support schemes are considered for supporting DR, wind resources, CHPs and photovoltaic resources. |
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| Keywords: | Distributed energy resources Expansion planning Multi-resource support scheme System dynamics |
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