Energy market-integrative wind plant modeling for wind plant integration economic analysis

The worldwide rapid increase in wind energy conversion-based generation necessitates additional study of the economic implications of wind plant integration. Market-based economic evaluations provide meaningful insight into the effects of integration on energy prices, revenue and revenue components to various market participants. To date, the methodologies for the modeling and evaluation have been tailored to specific systems, and therefore a general model has not been proposed. In this paper, a market-integrative wind plant modeling methodology for explicit energy market simulation is formulated. The methodology is innovative in that the developed wind plant model is used to determine wind plant power output and forecasted power output that are consistent in scope and granularity with the requirements of day-ahead and real-time energy markets. The methodology is applied to a study system to illustrate applicability to market-based wind plant integration studies.