IEEE Power & Energy Magazine - November/December 2021 - 77
©SHUTTERSTOCK.COM/LEO WOLFERT
Supporting an Increasing Share
of Renewable Energy
E
ELECTRICITY SYSTEMS AROUND
the world are decarbonizing, driven
by reductions in the cost of renewable
energy and encouraged by supportive
regulatory policy. Electricity market
designs are increasingly being tested to
ensure that the bulk power system can
deliver reliable, cost-effective energy to
all consumers.
Underpinning the delivery of reliable,
cost-effective energy requires
several sequential processes ranging
from short term (e.g., day-ahead energy
scheduling and real-time power dispatch)
to long term (e.g., making an
investment decision to build a new
generation or transmission asset). All
of these processes are impacted by the
accuracy of forecasting.
The bulk power system is transitioning
from one where most of the generation
came from conventional generating
units to one where the predominant
amount of generation comes from emission-free
resources, such as wind and
solar photovoltaic (PV) generation,
which have low marginal costs due to
Digital Object Identifier 10.1109/MPE.2021.3104132
Date of current version: 18 October 2021
november/december 2021
Forecasting
and Market
Design
Advances
By Jack Fox, Erik Ela, Ben Hobbs,
Justin Sharp, Josh Novacheck,
Amber Motley, Ricardo J. Bessa,
Pierre Pinson, and Georges Kariniotakis
1540-7977/21©2021IEEE
ieeepower & energy magazine
77
http://www.SHUTTERSTOCK.COM/LEO
IEEE Power & Energy Magazine - November/December 2021
Table of Contents for the Digital Edition of IEEE Power & Energy Magazine - November/December 2021
Contents
IEEE Power & Energy Magazine - November/December 2021 - Cover1
IEEE Power & Energy Magazine - November/December 2021 - Cover2
IEEE Power & Energy Magazine - November/December 2021 - Contents
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IEEE Power & Energy Magazine - November/December 2021 - Cover3
IEEE Power & Energy Magazine - November/December 2021 - Cover4
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