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An Emerging Framework for the Probabilistic Cost- Benefit Analysis of the Reliability, Resiliency, and Adaptability of Electric Power Systems

Author

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  • Frank Felder
  • Marie Petitet

    (King Abdullah Petroleum Studies and Research Center)

Abstract

Probabilistic cost-benefit analyses of the reliability, resiliency, and adaptability of electric power systems can inform policymakers on how to efficiently reduce the frequency, magnitude, duration, and costs of power outages; how to cost-effectively improve the integration of variable and intermittent renewables; and how to enhance equitable outcomes. The elements needed for these analyses are available, and the computations are reasonably tractable due to the rapid improvements in the computational ability to conduct tens of thousands of detailed power system simulations quickly.

Suggested Citation

  • Frank Felder & Marie Petitet, 2024. "An Emerging Framework for the Probabilistic Cost- Benefit Analysis of the Reliability, Resiliency, and Adaptability of Electric Power Systems," Discussion Papers ks--2024-dp19, King Abdullah Petroleum Studies and Research Center.
    • Handle: RePEc:prc:dpaper:ks--2024-dp19
    DOI: 10.30573/KS--2024-DP19
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    Keywords

    Battery storage; Benefits of electricity trade; Business models; Climate change;
    All these keywords.

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