Adaptive Transmission Planning: Implementing a New Paradigm for Managing Economic Risks in Grid Expansion

The problem of whether, where, when, and what types of transmission facilities to build in terms of minimizing costs and maximizing net economic benefits has been a challenge for the power industry from the beginning-ever since Thomas Edison debated whether to create longer dc distribution lines (wi...

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Bibliographic Details
Published in:IEEE power & energy magazine 2016-07, Vol.14 (4), p.30-40
Main Authors: Hobbs, Benjamin F., Qingyu Xu, Ho, Jonathan, Donohoo, Pearl, Kasina, Saamrat, Ouyang, Jasmine, Sang Woo Park, Eto, Joseph, Satyal, Vijay
Format: Magazinearticle
Language:English
Subjects:
Biological system modeling
Construction
Construction costs
Continents
Decisions
demand side management
Economics
Electricity supply industry
ENERGY PLANNING, POLICY, AND ECONOMY
Investment
Markets
power grids
Power industry
Power markets
Power stations
Power system economics
Power system planning
Power system reliability
Power transmission
POWER TRANSMISSION AND DISTRIBUTION
power transmission planning
Stochastic processes
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Summary:The problem of whether, where, when, and what types of transmission facilities to build in terms of minimizing costs and maximizing net economic benefits has been a challenge for the power industry from the beginning-ever since Thomas Edison debated whether to create longer dc distribution lines (with their high losses) or build new power stations in expanding his urban markets. Today's planning decisions are far more complex, as grids cover the continent and new transmission, generation, and demand-side technologies emerge.
ISSN:1540-7977
1558-4216
DOI:10.1109/MPE.2016.2547280