Investigating Capacity Credit Sensitivity to Reliability Index

Abstract

Estimating the capacity value (or capacity credit) of an energy resource is crucial for planning and operating power systems. The recent developments in increased penetration of RES (Renewable Energy Resources) contribute to transforming such resources from being supportive to be primary sources. Due to the high intermittency of RES, capacity credit analysis became a critical metric used to predict the amount of capacity that could be expected from such resources. Existing capacity credit methods consider the different available resources independent although they might be overvaluing or undervaluing the capacity offered from RES. Such potentially inaccurate estimation is attributed to overlooking the portfolio of the different resources. This paper addresses the impact of considering different reliability indices on the capacity value for two modes of combined hybrid systems (stand-alone and grid-connected). Effective firm capacity (EFC) is the approach utilized in this work for capacity credit assessment.