Search NASA⌕ Search

SEARCH · Search NASA

Results for “power system economics”

Search indexed NASA NTRS and DOE OSTI research on propulsion, heat transfer, battery materials and energy systems. Follow report and document links to the original sources.

Quote a phrase for an exact phrase match. Source license links do not imply unrestricted reuse.

At least 19 records

Economical space power systems

A commercial approach to design and fabrication of an economical space power system is investigated. Cost projections are based on a 2 kW space power system conceptual design taking into consideration the capability for serviceability, constraints of operation in space, and commercial production engineering approaches. A breakdown of the system design, documentation, fabrication, and reliability and quality assurance estimated costs are detailed.

Burkholder, J. H.↗

The Value of Increased HVDC Capacity Between Eastern and Western U.S. Grids: The Interconnections Seam Study

The Interconnections Seam Study examines the potential economic value of increasing electricity transfer between the Eastern and Western Interconnections using high-voltage direct-current (HVDC) transmission and cost-optimizing both generation and transmission resources across the United States, proposing, assessing, justifying, and illustrating a major infrastructure change involving two of the worlds largest power grids. The study conducted a multi-model analysis that used co-optimized generation and transmission expansion planning and production cost modeling. Four transmission designs under eight scenarios were developed and studied to estimate costs and potential benefits. The results show benefit-to-cost ratios that reach as high as 2.5, indicating significant value to increasing the transmission capacity between the interconnections under the cases considered, realized through sharing generation resources and flexibility across regions.

24 POWER TRANSMISSION AND DISTRIBUTION↗

Integrated System Planning: Emerging Software Requirements in the Power Industry

Power system planning software remains fragmented across organizational boundaries, with specialized tools for capacity expansion, production cost modeling, power flow, and dynamic analysis operating on incompatible data models and assumptions. This article argues that the fragmentation is not merely a technical problem but a predictable consequence of Conway's law: software architectures mirror the departmental structures within which they are developed. Regulatory milestones like Federal Energy Regulatory Commission (FERC) Order 888 formalized these divisions, but the roots trace back to the distinct engineering disciplines-mechanical, chemical, and electrical-that staffed generation and transmission planning departments in vertically integrated utilities. As the industry moves toward integrated system planning (ISP) that coordinates generation, transmission, and distribution investment decisions, the software ecosystem must evolve accordingly. We identify five categories of software requirements to enable this transition: coherent data inputs decoupled from individual applications, unified and extensible data schemas, modular component representations that support multiple abstraction levels, lifecycle management of planning datasets, and well-defined application programming interface (API) contracts that separate data exchange from algorithmic control. We examine how these requirements interact with three common workflow patterns-serial gate clearing, sequential multiapplication, and convergence oriented-and discuss the interface design principles each demands. We then outline a vision for platform-based planning architectures where specialized analytical services compose through standardized interfaces and where artificial intelligence (AI)/machine learning (ML) tools augment decision support within a disciplined software infrastructure. The practices proposed here offer a path from today's siloed tool collections toward collaborative planning ecosystems capable of handling the complexity of modern power system transformation.

24 POWER TRANSMISSION AND DISTRIBUTION↗

Energy-Storage Modeling: State-of-the-Art and Future Research Directions

Given its physical characteristics and the range of services that it can provide, energy storage raises unique modeling challenges. This paper summarizes capabilities that operational, planning, and resource-adequacy models that include energy storage should have and surveys gaps in extant models. Existing models that represent energy storage differ in fidelity of representing the balance of the power system and energy-storage applications. Modeling results are sensitive to these differences. The importance of capturing chronology can raise challenges in energy-storage modeling. Some models ‘decouple’ individual operating periods from one another, allowing for natural decomposition and rendering the models relatively computationally tractable. Energy storage complicates such a modeling approach. Improving the representation of the balance of the system can have major effects in capturing energy-storage costs and benefits.

25 ENERGY STORAGE↗

Integrating Transactive Energy into Reliability Evaluation for a Self-healing Distribution System with Microgrid

Non-utility owned distributed energy resources (DERs) are mostly untapped currently, but they can provide many grid services such as voltage regulation and service restoration, if properly controlled, and can improve the distribution systems reliability when coordinated with utility-owned assets such as self-healing control and microgrids. This paper integrates transactive energy control into the distribution system reliability evaluation to quantitatively assess the impact of non-utility owned DERs on reliability improvement. Here, a transactive reactive power control strategy is designed to incentivize the DERs to provide reactive power support for improving voltage profiles thus enabling additional customer load restoration during an outage. Also, an operational sequence to coordinate the non-utility owned DERs with the utility owned self-healing control and utility owned microgrids is designed and integrated into the service restoration process with the operational constraints guaranteed by checking the three-phase unbalanced power flow for post-fault network reconfiguration. The reliability indices are then calculated through a Monte Carlo simulation. The transactive reactive power control strategy is tested on a four-feeder distribution system operated by Duke Energy in the U.S. Results demonstrate that the non-utility owned DERs with the transactive control improve the reliability of both the system and critical loads by more than 30%.

24 POWER TRANSMISSION AND DISTRIBUTION↗

Integrated hydrological, power system and economic modelling of climate impacts on electricity demand and cost

Impacts of climate-related water stress and temperature changes can cascade through energy systems, although models have yet to capture this compounding of effects. Here, we employ a coupled water–power–economy model to capture these important interactions in a study of the exceedance of water temperature thresholds for power generation in the western United States. We find that not all reductions in reserve electricity-generation capacity result in impacts, and that when they occur, intermittent interruptions in electricity supply at critical times of the day, week and year account for much of the economic impacts. Finally, we find that impacts may be in different locations from the original water stress. Herein, we estimate that the consumption loss can be up to 0.3% annually and the drivers identified in coupled modelling can increase the average cost of electricity by up to 3%. Integrated models will be needed to capture the cascading effects of climate change through climatic, water, energy and economic systems. Webster et al. now develop a coupled hydrologic–power-production–economic model to estimate water-stress impacts on electricity cost.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

A Distributionally Robust Optimization Framework for Stochastic Assessment of Power System Flexibility in Economic Dispatch

Given the complexity of power systems, particularly the high-dimensional variability of net loads, accurately depicting the entire operational range of net loads poses a challenge. To address this, recent methodologies have sought to gauge the maximum range of net load uncertainty across all buses. In this paper, we consider the stochastic nature of the net load and introduce a distributionally robust optimization framework that assesses system flexibility stochastically, accommodating a minimal extent of system violations. We verify the proposed method by solving the flexibility of the economic dispatch problem on four distinct IEEE standard test systems. Compared to traditional deterministic flexibility evaluations, our approach consistently yields less conservative flexibility outcomes.

distributionally robust optimization↗

The Economics of Power System Transitions

Electricity generated by fossil fuels is dispatchable, meaning that generators can be turned on when needed. By contrast, renewable energy tends to be intermittent because of the variability of natural sources such as wind and sunlight. New approaches are needed to solve the challenges to electricity systems posed by the growing share of variable renewable energy (VRE) in these systems. Specifically, how should the physical power system and markets for electricity be structured to deliver electricity at low cost and reflect consumers’ preferences for reliability? Current power systems have largely achieved these two goals through a competitive market for generation based on marginal cost pricing and through mandated overcapacity to ensure 100 percent reliability to consumers. Decarbonization-induced increases in the share of generation from nondispatchable VRE create operational challenges: ensuring 100 percent reliability in a VRE-dominated system will be costly and inefficient. Preferences for reliability are heterogeneous, as some consumers will insist on 100 percent reliable energy, whereas others may be willing to forgo reliability for lower cost. In this article, we discuss ways to design a power system and electricity market that can address this inefficiency.

24 POWER TRANSMISSION AND DISTRIBUTION↗

Economic analysis of the design and fabrication of a space qualified power system

An economic analysis was performed to determine the cost of the design and fabrication of a low Earth orbit, 2 kW photovoltaic/battery, space qualified power system. A commercially available computer program called PRICE (programmed review of information for costing and evaluation) was used to conduct the analysis. The sensitivity of the various cost factors to the assumptions used is discussed. Total cost of the power system was found to be $2.46 million with the solar array accounting for 70.5%. Using the assumption that the prototype becomes the flight system, 77.3% of the total cost is associated with manufacturing. Results will be used to establish whether the cost of space qualified hardware can be reduced by the incorporation of commercial design, fabrication, and quality assurance methods.

Ruselowski, G.↗

Space-based solar power conversion and delivery systems study. Volume 3: Economic analysis of space-based solar power systems

A variety of economic and programmatic issues are discussed concerning the development and deployment of a fleet of space-based solar power satellites (SSPS). The costs, uncertainties and risks associated with the current photovoltaic SSPS configuration, and with issues affecting the development of an economically viable SSPS development program are analyzed. The desirability of a low earth orbit (LEO) demonstration satellite and a geosynchronous (GEO) pilot satellite is examined and critical technology areas are identified. In addition, a preliminary examination of utility interface issues is reported. The main focus of the effort reported is the development of SSPS unit production, and operation and maintenance cost models suitable for incorporation into a risk assessment (Monte Carlo) model (RAM). It is shown that the key technology area deals with the productivity of man in space, not, as might be expected, with some hardware component technology.

Hazelrigg, G. A., Jr.↗

A comparison of economic evaluation models as applied to geothermal energy technology

Several cost estimation and financial cash flow models have been applied to a series of geothermal case studies. In order to draw conclusions about relative performance and applicability of these models to geothermal projects, the consistency of results was assessed. The model outputs of principal interest in this study were net present value, internal rate of return, or levelized breakeven price. The models used were VENVAL, a venture analysis model; the Geothermal Probabilistic Cost Model (GPC Model); the Alternative Power Systems Economic Analysis Model (APSEAM); the Geothermal Loan Guarantee Cash Flow Model (GCFM); and the GEOCOST and GEOCITY geothermal models. The case studies to which the models were applied include a geothermal reservoir at Heber, CA; a geothermal eletric power plant to be located at the Heber site; an alcohol fuels production facility to be built at Raft River, ID; and a direct-use, district heating system in Susanville, CA.

Ziman, G. M.↗

Satellite power system: Engineering and economic analysis summary

A system engineering and economic analysis was conducted to establish typical reference baselines for the photovoltaic, solar thermal, and nuclear satellite power systems. Tentative conclusions indicate that feasibility and economic viability are characteristic of the Satellite Power System. Anticipated technology related to manufacturing, construction, and maintenance operations is described. Fuel consumption, environmental effects, and orbital transfer are investigated. Space shuttles, local space transportation, and the heavy lift launch vehicle required are also discussed.

Source record↗

Pricing and Energy Trading in Peer-to-Peer Zero Marginal-Cost Microgrids

Efforts to utilize 100% renewable energy in community microgrids require new approaches to energy markets and transactions to efficiently address periods of scarce energy supply. In this paper we contribute to the promising approach of peer-to-peer (P2P) energy trading in two main ways: analysis of a centralized, welfare-maximizing economic dispatch that characterizes optimal price and allocations, and a novel P2P system for negotiating energy trades that yields physically feasible and at least weakly Pareto-optimal outcomes. Our main results are 1) that optimal pricing is insufficient to induce agents with batteries to take optimal actions, 2) a novel P2P algorithm to addresses this while keeping private information, 3) a formal proof that this algorithm converges to the centralized solution in the case of two agents negotiating for a single period, and 4) numerical simulations of the P2P algorithm performance with up to 10 agents and 24 periods that show it converges on average to total welfare within 0.1% of the social optimum in on the order of 10s to 100s of iterations, increasing with the number of agents, time periods, and total storage capacity.

batteries↗

The Health and Climate Benefits of Economic Dispatch in China’s Power System

China’s power system is highly regulated and uses an “equal-share” dispatch approach. However, market mechanisms are being introduced to reduce generation costs and improve system reliability. Here, we quantify the climate and human health impacts brought about by this transition, modeling China’s power system operations under economic dispatch. We find that significant reductions in mortality related to air pollution (11%) and CO 2 emissions (3%) from the power sector can be attained by economic dispatch, relative to the equal-share approach, through more efficient coal-powered generation. Additional health and climate benefits can be achieved by incorporating emission externalities in electricity generation costs. However, the benefits of the transition to economic dispatch will be unevenly distributed across China and may lead to increased health damage in some regions. Our results show the potential of dispatch decision-making in electricity generation to mitigate the negative impacts of power plant emissions with existing facilities in China.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

An economical approach to space power systems

Projected energy demand for all NASA, DoD and civil missions for the time span 1981 to 1995 are illustrated. Typical energy cost range from about $300 to $2000 per kW-hr, with an average of about $800 per kW-hr for long-duration missions. At these levels, the cost of the required energy would be several billion dollars per year by about 1985 and might constrain the number and types of NASA programs to be carried out. NASA is extensively pursuing approaches for reducing nonrecurring costs. Two programs are presented for the development of an economical approach to space power systems. They are: (1) Economical Orbital Power (ECOP) with the objective to demonstrate the applicability of a commercial approach to the development of a low cost photovoltaic space power system; and (2) Space Power Experiment (SPEX) which has the objective to demonstrate the application of industrial hardware for space power systems.

Teren, F.↗