This paper presents a flexibility-oriented generation expansion planning (GEP) model with the goal of increasing renewable energy penetration. The model incorporates GEP and unit commitment while considering improved reserve requirements. Utilizing GEP and unit commitment results in considering short-term operational constraints. Furthermore, given the increase in renewable portfolio standards (RPS) and the need for accurate reserve requirements determination, it is essential to consider improved reserve requirements in the proposed model. Moreover, this model utilizes a metric that measures power system flexibility deficiency and leads to flexible power system expansion by integrating it into the objective function. The flexibility-oriented GEP model is developed using mixed-integer linear programming and applied to a scaled-sized case study representing the national power system of Iran with a twenty-year planning horizon. The results show that neglecting improved reserve requirements leads to plans short on flexibility, and considering these requirements substantially declines the upward flexibility violation costs by 68% under the base scenario and 87% under increasing non-hydro RPS scenario. Furthermore, using the flexibility metric coupled with improved reserve requirements changes the optimal path for power system expansion and reduces the risk of flexibility deficiency. Also, increasing RPS by 35% would strongly depend on developing fast-response dispatchable generation units in the years before renewable energy resources expansion; however it doesn’t impose a significant extra cost of planning and the total cost will increase just by 9.43%.
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