A Monte-Carlo Simulation Method for the Economic Assessment of the Contribution of Wind Energy to Power Systems

A method for determining the costeffectiveness of wind energy and the economic limitations of penetration into electrical power systems is presented. It is based on a Monte-Carlo approach which simulates the hour-by-hour operation of the power system. The hourly random variations in wind and load are modeled in addition to the operating constraints inherent in conventional generation. The economic assessment is based on a selected one-year simulation period, Two examples of the application of this method are given.