Impact of an optimum renewable portfolio standard in the system adequacy and its effect on the wholesale electricity market : Dominican Republic
Resumen
As in any other country, the security of electricity supply is essential to the development
of Dominican Republic. With the ongoing growth of renewable energy sources of
electricity in the country, its power system adequacy may be deteriorated due to the low
price cap established in the wholesale market. This work proposes two methodologies
based upon a linear programming model for optimizing generation investment and
operations that try to solve this oncoming problem. Both methodologies measure the
impact of different scenarios of renewable share, while at the same time determines a new
price cap that ensures better reliability levels. These methodologies could be implemented
by setting a Renewable Portfolio Standard (RPS) that resembles the best scenario of
renewable share in the market according to the results. For both methodologies, an RPS
of 13% with its corresponding increase in the price cap, could be consider as “optimal”
or at least the preferable one, as it would result in the best improvement in reliability. This
enhancement in reliability serves as a basis to remunerate renewables based on their
Effective Load Carrying Capability (ELCC), which resulted in 15.2%. For any of the
methodologies to work, some adjustments must be made regarding the market and
regulatory design, as well as necessary improvements in the infrastructure of the power
system.
Trabajo Fin de Máster
Impact of an optimum renewable portfolio standard in the system adequacy and its effect on the wholesale electricity market : Dominican RepublicTitulación / Programa
Master in the Electric Power IndustryMaterias/ UNESCO
33 Ciencias tecnológicas3322 Tecnología energética
332205 Fuentes no convencionales de energía
53 Ciencias económicas
5312 Economía sectorial
531205 Energía
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