Abstract
Wind energy increasingly plays a crucial role in replacing existing systems based on fossil fuels and nuclear generators. However, skepticism about the technological feasibility, economy of scale, operational profitability prevails. Our paper aims to fill this gap by analyzing the affordability of wind energy and by exploring the optimization issue incurring during the integration process of the micro electricity grid. Focusing on Locational Marginal Pricing (LMP) and Midwest Independent System Operator (MISO) data between January 2014 and December 2020, we find wind power generation helps decrease the system energy price after control the effect of gas price. Further, our model captures the important seasonal and uncertain characteristics of power generation and consumption over the years. We also identify and discuss the bottleneck issues of the MISO power grids. These findings provide insights into affordability and technologic integration for long-term strategic planning on green energy including pricing, seasonality, dispatch, and reliability issues.
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