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A Risk-Averse Approach for Distribution Grid Expansion Planning

Author

Listed:
  • Alexandre Moreira

    (Lawrence Berkeley National Laboratory, 1 Cyclotron Rd, Berkeley, CA 94720, USA)

  • Miguel Heleno

    (Lawrence Berkeley National Laboratory, 1 Cyclotron Rd, Berkeley, CA 94720, USA)

  • Alan Valenzuela

    (Lawrence Berkeley National Laboratory, 1 Cyclotron Rd, Berkeley, CA 94720, USA)

Abstract

Recent episodes of natural disasters have challenged the resilience of power grids. Adequate distribution grid planning that properly captures the risk aversion of the utility system planner is a key factor to increase the flexibility of distribution networks to circumvent these events. In this paper, we propose a methodology to determine the optimal portfolio of investments in lines and storage devices in order to minimize a convex combination between expected value and CVaR of operational costs, including energy not served, while taking into account the multistage nature of the energy storage management within this context. While the expected value of energy not served has been traditionally employed to tackle routine failures, we also minimize the CVaR of energy not served to address high-impact, low-probability (HILP) events. We illustrate the performance of the proposed methodology with a 54-Bus system test case.

Suggested Citation

  • Alexandre Moreira & Miguel Heleno & Alan Valenzuela, 2021. "A Risk-Averse Approach for Distribution Grid Expansion Planning," Energies, MDPI, vol. 14(24), pages 1-21, December.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:24:p:8482-:d:703443
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    References listed on IDEAS

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    1. Adam Smith & Richard Katz, 2013. "US billion-dollar weather and climate disasters: data sources, trends, accuracy and biases," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 67(2), pages 387-410, June.
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