PNNL

Abstract

Energy systems with high fractions of renewable energy-based resources require adequate assets providing flexibility in electricity usage to maximize the benefits of renewable energy. In this paper, we provide an analytical approach to estimate the flexibility requirements of such energy systems, with forecast uncertainties in both demand and generation. Our analytical results show that even with forecast errors, the expected system operating cost decreases with an increase in the amount of flexibility capacity -- however, there is an inflection point, beyond which addition of further flexibility capacity does not reduce expected system cost any further. Additionally, an enumeration-based approach is presented to estimate the maximum flexibility capacity needed to optimize the operating cost. Numerical experiments conducted on a network-abstracted modified IEEE 30-bus system are used for empirical validation and gaining additional insights on the effect of prosumers' willingness to offer flexibility on the dispatch performance.