Analysis Of Well-being Research Articles

재생에너지 발전출력의 변동성을 고려한 정적안정도의 위험도(Risk) 평가 방법에 관한 연구

In this paper, a probabilistic static stability evaluation method considering the variability of renewable energy generation output and a Well-Being Analysis (WBA) method that can evaluate the level of risk of static stability are presented. In order to apply the WBA, we analyzed the measured renewable energy generation output and variability. In addition, to prove the effectiveness of the proposed WBA method, a probabilistic stability evaluation was performed using a test system and the WBA method was applied.

Well-Being Analysis of Power Systems Considering Increasing Deployment of Gas Turbines

With the significant decrease in natural gas prices in many parts of the world, the employment of gas turbine (GT) units has increased steadily in recent years. The ever-increasing deployment of GT units is strengthening the interconnections between electric power and natural gas systems, which could provide a higher level of operational flexibility and reliability. As a result, the planning and operation issues in the interconnected electric power and natural gas systems have aroused concern. In these circumstances, the impacts of increasing deployment of GT units in power system operation are studied and evaluated through well-being analysis (WBA). The fast responsive characteristics of GT units are analyzed first, and the definition and adaption of WBA in a power system with increasing deployment of GT units are addressed. Then the equivalent reserve capacity of GT units is estimated, taking demand fluctuations, commitment plans, and operational risks of GT units into account. The WBA of a power system with increasing deployment of GT units is conducted considering the uncertainties of system operation states and renewable energy sources. Finally, the proposed methods are validated through an integrated version of the IEEE 118-bus power system and a 10-bus natural gas system, and the impacts of GT units on power system security under various penetration levels are examined. Simulation results demonstrate that the role of a GT unit as a low-cost electricity producer may conflict with its role as a reserve provider, but through maintaining a proper proportion of idle GT capacities for reserve, the well-being performance of the power system concerned can be significantly improved.

Well-Being Analysis vs. Cost-Benefit Analysis

Cost-benefit analysis is the primary tool used by policymakers to inform administrative decisionmaking. Yet its methodology of converting preferences (often hypothetical ones) into dollar figures, then using those dollar figures as proxies for quality of life, creates systemic errors so large as to deprive the tool of value. These problems have been lamented by many scholars, and recent calls have gone out from world leaders and prominent economists to find an alternative analytical device that would measure quality of life more directly. This Article proposes well-being analysis (WBA) as that alternative. Relying on data from the field of hedonic psychology that tracks people’s actual experience of life — data that has consistently survived scrutiny by passing the social science tests of reliability and validity — WBA is able to provide the same policy guidance as CBA without CBA’s distortionary conversion of preferences to dollars. We show how WBA can be implemented, and we catalog exhaustively its superiority over CBA. In light of this comparison, we conclude that there is no reason for CBA to continue as the decisionmaking tool of choice for administrative regulation.

Enhanced well-being analysis and value-at-risk (VaR) dependent reserve determination in deregulated power systems

Well-being analysis (WBA) encompasses deterministic and probabilistic measures to capture the comprehensive status of power system fitness with regards to ensuring adequacy. A key application is to be found in reserve allocation studies, both in the regulated and the liberalized scenarios. This paper presents a revised WBA approach applicable to the determination of reserve requirements at the Hierarchical Level I (HLI) (generation systems) of bilateral contracts market. Heuristic modification factors are proposed for a resourceful deployment of the traditional WBA. This is done with a view to overriding the odds of strict optimistic appraisals or lenient pessimistic appraisals, whose resultant implications in the planning and operation of power systems might yield insufficient contingency measures or unwarranted redundancy. Further, as in the risk management methods used in financial and insurance industries, the risk metric value-at-risk (VaR) is employed in this paper for deciding the beneficial reserve levels to be engaged by potential customers in bilateral contract markets.