| Summary | Electricity planning and investment decisions are strongly inter-related with environmental legislative policies, such as renewable portfolio standard and cap-and-trade regulation, and regulatory initiatives, such as rate decisions. This project will study the formulation and solution of investment decisions in new generation, transmission, storage, abatement, and demand response technologies under the explicit representation of environmental policies and their associated uncertainties. Our goal is to gain insights into the feasibility, effectiveness and robustness of investment strategies in complying with the requirements of the environmental policies explicitly taking into account the myriad sources of uncertainty. We shall investigate the application of the approach to the study of resource adequacy, transmission investment and the formulation of appropriate incentives for investment and the ability of the new investments to attain compliance in line with the policies. |
| Academic Team Members | Project Leader: Lizhi Wang (Iowa State, lzwang@iastate.edu, 515-294-1757)
Team members: George Gross (Univ. IL-Urbana, gross@illinois.edu, 217-244-6346) |
| Industry Team Members | Ali Chowdhury (CA-ISO), Ron Chu (Exelon), Jeff Fleeman (AEP), L. Min (EPRI), Mahendra Patel (PJM), Mike Swider (New York ISO), Andrea Fossa (New York ISO), Janos Toth (BCTC), Shimo Wang (Southern California Edison), Tongxin Zheng (ISO New England) |