Abstract
We discuss an approach to minimizing the group variability of generation in a system of intermittent renewable sources using the portfolio theory. The total variability of a system that can be modeled using various parameters as goal-functions is minimized given any desired level of expected long-term generation. An extensive analysis was carried out on a set of time series of measured generation data obtained from twenty wind plants in Croatia over five years in one hour and fifteen minutes, time resolutions. The choice of the goal function most relevant for the operational (and economic) consequences of short-term variability is discussed.
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