Reliability Cost/Worth Associated With Wind Energy and Energy Storage Utilization in Electric Power Systems

Wind is being recognized as an encouraging and cost effective generation source both in large grid connected systems and small isolated applications. The actual benefits obtained from utilizing wind energy for electric power generation can be investigated using reliability and economic evaluation techniques. The focus of these techniques is usually directed to the areas of reliability and the investment/operation alternatives associated with determining a desired reliability level. Considerable effort has been devoted to the reliability evaluation of power systems utilizing wind energy. Comparatively less emphasis has been given to the related economic analyses of such systems particularly considering possible energy storage capability. This paper presents a reliability cost/worth evaluation method that can incorporate the impacts of wind energy and energy storage utilization in electric power systems.