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Economic Value of Inertia in Low-Carbon Power Systems

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 Added by Luis Badesa
 Publication date 2020
and research's language is English




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Most renewable energy sources (RES) do not provide any inertial response. Their integration in a power grid implies a highly reduced level of system inertia, which leads to a deteriorated frequency performance. Then, the requirement for frequency response is significantly increased in order to maintain frequency security. Alternatively, enhanced provision of inertia from auxiliary sources may alleviate this problem. However, the benefits of inertia provision are not yet fully understood. In this paper, an inertia-dependent Stochastic Unit Commitment (SUC) tool is applied to quantify the economic value of inertia. The results demonstrate that enhanced provision of inertia would lead to significant economic savings, although these savings vary under different system conditions. These results should be brought to the attention of both market operators and investors, in order to inform the design of an ancillary-services market for inertia and the investment in auxiliary provision of inertia.



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Accurate inertia estimates and forecasts are crucial to support the system operation in future low-inertia power systems. A large literature on inertia estimation methods is available. This paper aims to provide an overview and classification of inertia estimation methods. The classification considers the time horizon the methods are applicable to, i.e., offline post mortem, online real time and forecasting methods, and the scope of the inertia estimation, e.g., system-wide, regional, generation, demand, individual resource. Shortcomings of the existing inertia estimation methods have been identified and suggestions for future work have been made.
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