Stochastic Unit Commitment in Isolated Systems With Renewable Penetration Under CVaR Assessment

Isolated regions and islands are facing imported fossil-fuel dependency, higher electricity prices, and vulnerability to climate change. At the same time, they are increasing their renewable penetration and, therefore, risk for electric utilities. Integrating stochastic energy resources in noninterconnected systems may take advantage of an intelligent and optimized risk-averse unit commitment (UC) model. This paper presents a two-stage stochastic UC model with high renewable penetration including reserve requirements for the efficient management of uncertainty.
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DAFT-E: Feature-Based Multivariate and Multi-Step-Ahead Wind Power Forecasting

At the recent 26th United Nations Climate Change Conference last year, more than 140 countries pledged to achieve net-zero emissions to combat climate change. And in a dramatic appeal to attain sustainability in the skies, Europe’s Flightpath 2050 initiated a bold effort to reduce CO2 emissions worldwide by 75%, NOx emissions by 90%, and the noise footprint by 60% by the midcentury mark.
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