Estimating Optimal Wind and Storage Capacity

— Considering the growing trend of the electric power demand and the global tendency to substitute new renewable energy sources, this paper proposes a Monte Carlo based method to determine an optimal level of this substitution. Because of the limitation of the wind farms in continuous supply of electric power, hydrostatic power storage facilities are used beside them so that the electric power could be stored and fed in a continuous flow into power systems. Due to the gradual exclusion of conventional generators and a reasonable percent annual load growth, Loss Of Load Expectation (LOLE) index was used in order to calculate the amount of the wind power and the capacity of the necessary power storage facility. To this end, Loss Of Energy Expectation (LOEE) index was calculated for the first year as the reference index for the estimation of the amount of wind power and the capacity of the storage facility in consequent years. For the upcoming years, calculations have been made to account for the gradual exclusion of conventional generators in proportion to load increments. The method proposed has been implemented and simulated on IEEE-RTS test system