Long-Run Transmission Expansion Under Uncertainty
The Power Systems Engineering Research Center has posted online a complimentary on-demand webinar titled “What Investments Should Be Made Now? Long-Run Transmission Expansion Under Uncertainty.”
Benjamin F. Hobbs of John Hopkins University was the presenter.
On its website, the Center says that aggressive development of renewable electricity sources will require significant expansions in transmission infrastructure. But how many new circuits, and where and when? These decisions must be made in the face of profound economic, technological, and political uncertainties.
The webinar presents a stochastic two-stage optimization model that captures the multistage nature of transmission planning under uncertainty and use it to evaluate interregional grid reinforcements in Great Britain and the U.S. Western Electricity Coordinating Council (WECC). In the model, a proactive transmission planner makes investment decisions in two time periods, each time followed by the investment and operations response of generators.
