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Center for Nonlinear Studies |
As wind power plants are massively deployed in the US and the rest of the world, decision-makers struggle to mitigate the impact of its stochastic nature on the cost and reliability performance of power systems. Therefore, there is a need for a rigor methodology to parameterize vagaries of Mother Nature in a way that can be coupled with decision-making tools. In this presentation, we will discuss one of such methodologies and analyze its results on a vast set of historical data. The presentation will be concluded with a pair of real and simulated (still plausible, though) examples that illustrate ruinous consequences of ignoring the proposed methodology.