RESEARCH OBJECTIVES
The four main objectives of the research are as follows:
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Our first objective is to investigate various physical, financial, political and environmental aspects related to the integration and penetration of intermittent renewable energy into electricity grids.
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Because electrical grid models need to aggregate certain assets comprising a grid, one cannot rely solely on engineering information to determine the operating characteristics and costs of assets. Although engineering data and relations are important, other required information can only be discovered as a result of model calibration. Thus, the major objective of the research is to determine appropriate methods for calibrating electrical grid and similar energy system models. This has not previously been doneand constitutes a long-term task.
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A potential solution to the intermittency problem of wind and solar energy is to rely more on very high-voltage transmission interties that facilitate access to regions with greater storage (viz., regions that rely more on hydroelectricity) and sale of electricity to regions with the greatest demand. Construction of the needed interties requires greater cooperation among political entities. While trade in electricity can enhance overall wellbeing, perceptions about how rents are shared can be an obstacle to trade. A further objective of the current research is to investigate how jurisdictions might mutually benefit from cooperating to share economic rents from enhanced trade in electricity.
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Finally, we examine Canada’s prospects for achieving its CO2e-emissions reduction targets in the electricity sector. Not only do we consider the potential for renewable energy to contribute to targets, but also the potential role of (and perhaps the need for) storage, natural gas and other sources of energy in meeting targets.
In addition, we intend to address the following secondary but important objectives: - To investigate different techniques for modeling and numerically solving constrained optimization and other mathematical models in the context of electricity systems and renewable energy. - To estimate the costs of reducing CO2 emissions from pursuing renewable but intermittent (e.g., wind, tidal) sources of electricity generation, and the potential savings from better integrating adjacent power grids through high capacity transmission interties. - To examine the role of economic incentives in directing investment in electrical generating assets.