A Valuation Framework for Informing Grid Modernization Decisions: Guidelines

Technical Report · Fri Mar 01 04:00:00 EST 2019

DOI:https://doi.org/10.2172/1760155· OSTI ID:1760155

Markel, Larry C. ^[1]; Hadley, Stanton W. ^[1]; O'Connor, Patrick W. ^[1]; Wolfe, Amy K. ^[1]

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1. Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

Advances in technologies to provide electric power (e.g., renewable energy and battery storage), measurements and monitoring (e.g., synchrophasors, smart meters), communication (e.g., cellular service, Internet utilities), computing (powerful distributed microprocessors), and innovations in grid topologies and configurations (e.g., microgrids) have markedly changed the options available to provide electricity to end-users. The value propositions for electrical service have similarly become much more complex and diverse. The values of a grid design option can no longer be expressed by just using historical costemissions-reliability metrics. Nor can major decisions be made through closed analysis without consideration of the different stakeholders affected by a decision. This valuation framework provides a structure for valuation that is deliberate, inclusive, and transparent, documenting the intermediate and final results to ensure clarity, accountability and repeatability.

• Research Organization: Oak Ridge National Laboratory (ORNL), Oak Ridge, TN (United States)
• Sponsoring Organization: USDOE
• Contributing Organization: Grid Modernization Laboratory Consortium
• DOE Contract Number: AC05-00OR22725
• OSTI ID: 1760155
• Report Number(s): ORNL/SPR-2019/1105
• Country of Publication: United States
• Language: English

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