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This paper concentrates on the capacity credit (CC) evaluation of wind energy, where a new method for constructing the joint distribution of wind speed and load is proposed. The method is based on the skew-normal mixture model (SNMM) and D-vine copulas, which is used to model the marginal distribution and the correlation structure, respectively. Then a cross entropy based importance sampling (CE-IS) is improved to enhance the efficiency of the power system reliability assessment, which is a crucial part of the CC evaluation. After that, the proposed methods are adopted to combine with the secant method to develop a complete algorithm to calculate the CC of wind energy. Numerical tests are designed and carried out based on the IEEE-RTS 79 system and wind speed data obtained from four wind farms in Northwest China. In order to show the superiority of SNMM and D-vine copula, the goodness-of-fit is quantified by different statistics. Besides, the improved CE-IS method is validated by comparison with Monte Carlo sampling (MCS) and traditional CE-IS in the efficiency of reliability assessment. Finally, the proved methods are combined with the secant method to calculate the CC of four wind farms, which can provide information for wind farm planning.

Capacity Credit Evaluation of Correlated Wind Resources Using Vine Copula and Improved Importance Sampling