Maximizing Value of Wind Power Allocation: a Multi-objective Optimization approach
Paper in proceedings, 2012
The trade-off between average output and standard deviation of the aggregated wind power output in Europe was investigated using a multi-objective optimization approach. By varying the allocation of wind power to different regions in Europe and aggregating the output, emphasis can be shifted between variability and average output. In the optimization, the objective of minimizing standard deviation is related to maximizing the aggregated capacity factor. A case where the capacity of wind power was five times the present installation was investigated. It was found, that the standard deviation of the aggregated output for the optimal aggregations range between 8.1 % and 19.5 % with a corresponding range in average output between 18.4 % and 37.3 %.