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DOE OSTI2022

Quantifying Value and Representing Competitiveness of Electricity System Technologies in Economic Models

Evaluating competition between electricity technologies is challenging because it depends on both their costs and their values. While technology costs can typically be estimated from projections of the cost components - capital, fuel, and O&M - estimating a technology's value is more complex due to its dependence on its contributions to multiple different grid services, each with prices that can vary substantially over space and time. In this work, using an electricity model of the contiguous United States, we develop relationships between relative value and share of total generation for major electricity generation technologies which, when paired with projections of technology costs, can be used to estimate technology competitiveness. We identify significant differences in the relationship between relative value and generation share for variable renewable energy (VRE) and non-VRE sources, but we demonstrate that all technologies require consideration of their dynamic values (in addition to cost) when evaluating competitiveness. In addition, we demonstrate that relative value of a technology is substantially impacted by not only its own generation share but also other aspects of the system state, in particular the mix of other technologies present in the system. Finally, we use the developed relative value relationships in combination with projections of future technology costs in a coarse resolution model that competes technologies based on a comprehensive competitiveness metric: profitability-adjusted LCOE (PLCOE). We show that this simple representation of technology competition approximately recovers the generation mix from a detailed model, which is not possible using LCOE alone. Such an approach can be used to improve the representation of technology competition in coarse-resolution models such as integrated assessment models, for which simplified metrics are often needed.

electricity model↗
DOE OSTI2025

A method for assessing economic, environmental, and reliability tradeoffs of interregional transmission connecting ERCOT (the Texas grid) to the eastern and western grids

Reliable development of the power grid is an evolving concern for humanity due to extreme weather that frequently threatens power sector infrastructure. The state of Texas is a uniquely structured testbed for grid planners to study when looking for solutions to development, innovation, and overcoming such challenges. Because of its size and islanded structure, Texas is small enough to model, but big enough to matter. Texas is a global leader in energy production, energy consumption, and maintains an unusually diverse fuel mix. In addition, the state has experienced winter freezes, heat waves, wind storms, droughts and floods that have threatened power sector infrastructure or caused recent blackouts and calls for demand side conservation. One of the most devastating of these events was the North American winter storm, dubbed “Winter Storm Uri” by the Weather Channel, that froze the region in February 2021 and led to an extended power outage event that put the majority of Texan residents in darkness for days. While preparing to avoid such outage events in the future, various tools have been proposed to improve grid reliability, including energy efficiency, demand response, and distributed energy resources. An additional option would be to develop interregional transmission that connects the Texas grid to other national grids. To assess the merits of this idea, we developed a novel, universally-applicable and internationally-relevant framework to study how the Texas grid would evolve alongside access to various interregional ties. This method allows us to stress the synthetic grid structure and analyze how it would respond to the shock of a simulated winter storm event. Our method leverages open-source modeling tools, such as PowerGenome, pyGRETA, and GenX to synthesize unique zonal grid data, construct a consolidated network of model regions, and simulate different developmental pathways of capacity expansion and operational dispatch. We demonstrate our method with an analysis connecting the Electric Reliability Council of Texas (ERCOT), the grid that serves most of Texas, the Western Electricity Coordinating Council (WECC), the grid that serves the western half of the contiguous U.S., and the Eastern Interconnect, the grid that serves the eastern half of the contiguous U.S. Our results indicate that the cost-optimal capacity of interregional transmission connecting the ERCOT grid to other grids lies between 9–13 GW assuming baseline conditions. Building this amount of connecting capacity in one or multiple directions lowers the costs and emissions of development and operation by up to $16 billion and 257 million metric tonnes (MMT) respectively. Additionally, our results show that the interregional connections between ERCOT and other national grids reduce the amount of total load shed required through mild winter storm events. However, our results also show that there is a threshold of very extreme winter storm conditions, spanning multiple service areas, above which the connections exacerbate resource adequacy problems. Therefore, the results indicate that the connections need to be carefully planned alongside the rest of the grid infrastructure to avoid over-reliance on specific resources or technology options.

24 POWER TRANSMISSION AND DISTRIBUTION↗