A Cost-driven Transition Comparison to improve grid resilience during unusual harsh weather condition operation. “Texas A Case Study”

Abstract

Global warming crisis awareness has been a dominant political and environmental theme for the past 10 years. The need for everyone to participate in sustainability is accepted globally vis-a-vis technological advancement, political and environmental regulation. Weather, which is a major metric of global warming, has an unsustainable close cycle correlation with the energy industry. For instance, the use of power plants that aren't designed for extreme weather conditions leads to unwanted grid outages. This grid outage usually has severe effects on the life, health, and livelihood of the people in the environment. A typical situation is an occurrence in Texas in 2011 and the recent one in 2021. However, mitigating against this challenge is also a major concern as their occurrence aren't frequent enough and cannot be easily forecasted, hence; there is a need for an effective cost-driven solution to be implemented, such that all the stakeholders in the electricity value chain can benefit optimally, in terms of profit and from a social welfare perspective.