An 8-Zone ISO-NE Test System with Physically-Based Wind Power

Thumbnail Image
Date
2017-01-31
Authors
Li, Wanning
Tesfatsion, Leigh
Major Professor
Advisor
Committee Member
Journal Title
Journal ISSN
Volume Title
Publisher
Authors
Person
Tesfatsion, Leigh
Professor Emeritus
Research Projects
Organizational Units
Organizational Unit
Economics

The Department of Economic Science was founded in 1898 to teach economic theory as a truth of industrial life, and was very much concerned with applying economics to business and industry, particularly agriculture. Between 1910 and 1967 it showed the growing influence of other social studies, such as sociology, history, and political science. Today it encompasses the majors of Agricultural Business (preparing for agricultural finance and management), Business Economics, and Economics (for advanced studies in business or economics or for careers in financing, management, insurance, etc).

History
The Department of Economic Science was founded in 1898 under the Division of Industrial Science (later College of Liberal Arts and Sciences); it became co-directed by the Division of Agriculture in 1919. In 1910 it became the Department of Economics and Political Science. In 1913 it became the Department of Applied Economics and Social Science; in 1924 it became the Department of Economics, History, and Sociology; in 1931 it became the Department of Economics and Sociology. In 1967 it became the Department of Economics, and in 2007 it became co-directed by the Colleges of Agriculture and Life Sciences, Liberal Arts and Sciences, and Business.

Dates of Existence
1898–present

Historical Names

  • Department of Economic Science (1898–1910)
  • Department of Economics and Political Science (1910-1913)
  • Department of Applied Economics and Social Science (1913–1924)
  • Department of Economics, History and Sociology (1924–1931)
  • Department of Economics and Sociology (1931–1967)

Related Units

Journal Issue
Is Version Of
Versions
Series
Department
Economics
Abstract

This study extends the agent-based 8-Zone ISO-NE Test System to include wind turbine agents, each characterized by location, physical type, and an output curve mapping local wind speed into wind power output. Increases in wind power penetration (WPP) are modeled as build-outs of investment queues for planned wind turbine installations. The extended system is used to study the effects of increasing WPP under both stochastic and deterministic day-ahead market (DAM) formulations for security-constrained unit commitment (SCUC).

For each tested WPP, the expected cost saving resulting from a switch from deterministic to stochastic DAM SCUC is found to display a U-shaped variation as the reserve requirement (RR) for deterministic DAM SCUC is successively increased. Moreover, the RR level resulting in the lowest expected cost saving systematically increases with increases in WPP.

Comments
Description
Keywords
Citation
DOI
Source
Copyright
Collections