Integrated Agent-Based and Production Cost Modeling Framework for Renewable Energy Studies: Preprint
The agent-based framework for renewable energy studies (ARES) is an integrated approach that adds an agent-based model of industry actors to PLEXOS and combines the strengths of the two to overcome their individual shortcomings. It can examine existing and novel wholesale electricity markets under high penetrations of renewables. ARES is demonstrated by studying how increasing levels of wind will impact the operations and the exercise of market power of generation companies that exploit an economic withholding strategy. The analysis is carried out on a test system that represents the Electric Reliability Council of Texas energy-only market in the year 2020. The results more realistically reproduce the operations of an energy market under different and increasing penetrations of wind, and ARES can be extended to address pressing issues in current and future wholesale electricity markets.
- Research Organization:
- National Renewable Energy Lab. (NREL), Golden, CO (United States)
- Sponsoring Organization:
- USDOE; NREL Laboratory Directed Research and Development (LDRD)
- DOE Contract Number:
- AC36-08GO28308
- OSTI ID:
- 1226472
- Report Number(s):
- NREL/CP-5D00-64660
- Resource Relation:
- Conference: To be presented at the 49th Hawaii International Conference on System Sciences (HICSS), 5-8 January 2016, Kauai, Hawaii
- Country of Publication:
- United States
- Language:
- English
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