Economic Impact Assessment of Wind Power Integration: A Quasi-Public Goods Property Perspective

Abstract

The integration of wind power into power grid will bring some impacts on the multiple subjects of electric power system. Economic impacts of wind power integration on multiple subjects of China's electric power system were quantitatively assessed from Quasi-public goods property perspective in this paper. Firstly, the Quasi-public goods property of transmission services provided by power grid corporations was elaborated. Secondly, the multiple subjects of China's electric power system, which include electricity generation enterprises (EGEs), power grid corporations (PGCs), electricity consumers (ECs), and environment, were detailed analyzed. Thirdly, based on the OPF-based nodal price model and transmission service cost allocation model, the economic impact assessment model of wind power integration was built from Quasi-public goods property perspective. Then, the IEEE-24 bus system employed in this paper was introduced according to current status of China's electric power system, and the modeling of wind turbine was also introduced. Finally, the simulation analysis was performed, and the economic impacts of wind power integration on EGEs, PGCs, ECs and Environment were calculated. The results indicate, from Quasi-public goods property perspective, the wind power integration will bring positive impacts on EGEs, PGCs and Environment, while negative impacts on ECs. The findings can provide references for power system managers, energy planners, and policy makers.