Optimal Design and Operation of Power Systems with Large Shares of Renewable Energy

Power systems with large shares of renewable power will also need better hour-by-hour forecasts for these resources. In the second part of this seminar I will discuss research which shows that forecast models can be improved significantly if they are trained using asymmetrical cost functions, reflecting the high cost of a generation shortfall relative to the lower cost of keeping excess reserves online.

Speaker: Matthias Fripp, Univ of Hawaii