Long-Term Expansion Planning of the Transmission Network in India under Multi-Dimensional Uncertainty

Considerable investment in India’s electricity system may be required in the coming decades in order to help accommodate the expected increase of renewables capacity as part of the country’s commitment to decarbonize its energy sector. In addition, electricity demand is geared to significantly incre...

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Autores principales:	Spyros Giannelos, Anjali Jain, Stefan Borozan, Paola Falugi, Alexandre Moreira, Rohit Bhakar, Jyotirmay Mathur, Goran Strbac
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	energy storage flexibility India nested benders decomposition network planning option value Technology T
Acceso en línea:	https://doaj.org/article/187cffb4d1ad4fc690819a5159bdb7bb
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spelling	oai:doaj.org-article:187cffb4d1ad4fc690819a5159bdb7bb2021-11-25T17:28:57ZLong-Term Expansion Planning of the Transmission Network in India under Multi-Dimensional Uncertainty10.3390/en142278131996-1073https://doaj.org/article/187cffb4d1ad4fc690819a5159bdb7bb2021-11-01T00:00:00Zhttps://www.mdpi.com/1996-1073/14/22/7813https://doaj.org/toc/1996-1073Considerable investment in India’s electricity system may be required in the coming decades in order to help accommodate the expected increase of renewables capacity as part of the country’s commitment to decarbonize its energy sector. In addition, electricity demand is geared to significantly increase due to the ongoing electrification of the transport sector, the growing population, and the improving economy. However, the multi-dimensional uncertainty surrounding these aspects gives rise to the prospect of stranded investments and underutilized network assets, rendering investment decision making challenging for network planners. In this work, a stochastic optimization model is applied to the transmission network in India to identify the optimal expansion strategy in the period from 2020 until 2060, considering conventional network reinforcements as well as energy storage investments. An advanced Nested Benders decomposition algorithm was used to overcome the complexity of the multistage stochastic optimization problem. The model additionally considers the uncertainty around the future investment cost of energy storage. The case study shows that deployment of energy storage is expected on a wide scale across India as it provides a range of benefits, including strategic investment flexibility and increased output from renewables, thereby reducing total expected system costs; this economic benefit of planning with energy storage under uncertainty is quantified as Option Value and is found to be in excess of GBP 12.9 bn. The key message of this work is that under potential high integration of wind and solar in India, there is significant economic benefit associated with the wide-scale deployment of storage in the system.Spyros GiannelosAnjali JainStefan BorozanPaola FalugiAlexandre MoreiraRohit BhakarJyotirmay MathurGoran StrbacMDPI AGarticleenergy storageflexibilityIndianested benders decompositionnetwork planningoption valueTechnologyTENEnergies, Vol 14, Iss 7813, p 7813 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	energy storage flexibility India nested benders decomposition network planning option value Technology T
spellingShingle	energy storage flexibility India nested benders decomposition network planning option value Technology T Spyros Giannelos Anjali Jain Stefan Borozan Paola Falugi Alexandre Moreira Rohit Bhakar Jyotirmay Mathur Goran Strbac Long-Term Expansion Planning of the Transmission Network in India under Multi-Dimensional Uncertainty
description	Considerable investment in India’s electricity system may be required in the coming decades in order to help accommodate the expected increase of renewables capacity as part of the country’s commitment to decarbonize its energy sector. In addition, electricity demand is geared to significantly increase due to the ongoing electrification of the transport sector, the growing population, and the improving economy. However, the multi-dimensional uncertainty surrounding these aspects gives rise to the prospect of stranded investments and underutilized network assets, rendering investment decision making challenging for network planners. In this work, a stochastic optimization model is applied to the transmission network in India to identify the optimal expansion strategy in the period from 2020 until 2060, considering conventional network reinforcements as well as energy storage investments. An advanced Nested Benders decomposition algorithm was used to overcome the complexity of the multistage stochastic optimization problem. The model additionally considers the uncertainty around the future investment cost of energy storage. The case study shows that deployment of energy storage is expected on a wide scale across India as it provides a range of benefits, including strategic investment flexibility and increased output from renewables, thereby reducing total expected system costs; this economic benefit of planning with energy storage under uncertainty is quantified as Option Value and is found to be in excess of GBP 12.9 bn. The key message of this work is that under potential high integration of wind and solar in India, there is significant economic benefit associated with the wide-scale deployment of storage in the system.
format	article
author	Spyros Giannelos Anjali Jain Stefan Borozan Paola Falugi Alexandre Moreira Rohit Bhakar Jyotirmay Mathur Goran Strbac
author_facet	Spyros Giannelos Anjali Jain Stefan Borozan Paola Falugi Alexandre Moreira Rohit Bhakar Jyotirmay Mathur Goran Strbac
author_sort	Spyros Giannelos
title	Long-Term Expansion Planning of the Transmission Network in India under Multi-Dimensional Uncertainty
title_short	Long-Term Expansion Planning of the Transmission Network in India under Multi-Dimensional Uncertainty
title_full	Long-Term Expansion Planning of the Transmission Network in India under Multi-Dimensional Uncertainty
title_fullStr	Long-Term Expansion Planning of the Transmission Network in India under Multi-Dimensional Uncertainty
title_full_unstemmed	Long-Term Expansion Planning of the Transmission Network in India under Multi-Dimensional Uncertainty
title_sort	long-term expansion planning of the transmission network in india under multi-dimensional uncertainty
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/187cffb4d1ad4fc690819a5159bdb7bb
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Long-Term Expansion Planning of the Transmission Network in India under Multi-Dimensional Uncertainty

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