Renewable Energy in Electricity Markets

Catalog description

This course covers the structure and economics of the power grid in the US and the role played by renewable generation on the existing system. The course begins by introducing students to the structure of the power grid and teaches them to use typical analysis methods that are used to describe power transmission. The regulatory structure of US electricity markets is described to develop the framework for interpreting electricity pricing. Power analyses are used in conjunction with economic analyses to describe the interplay between transmission and cost of electricity to consumers. Unique aspects of renewable generation are introduced to this established context to begin to describe future drivers in the marketplace. Specific challenges associated with renewables are discussed, including the need for power system reserves, flexibility, the potential for overgeneration and the need for frequency and demand response. Methods to manage or overcome these challenges will also be discussed. Finally, this knowledge will be applied via discussion of several case studies of real power generation and transmission systems in the world.