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Economic benefits comparison between point‐to‐point and multi‐terminal VSC HVDC systems with large‐scale wind farms
Author(s) -
Kim Sangwon,
Yokoyama Akihiko,
Takano Tomihiro,
Izui Yoshio,
Hashimoto Hiroyuki
Publication year - 2018
Publication title -
ieej transactions on electrical and electronic engineering
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.254
H-Index - 30
eISSN - 1931-4981
pISSN - 1931-4973
DOI - 10.1002/tee.22724
Subject(s) - high voltage direct current , terminal (telecommunication) , voltage source , wheeling , point to point , transmission system , electric power system , hvdc converter station , transmission (telecommunications) , engineering , electrical engineering , computer science , power (physics) , voltage , direct current , telecommunications , physics , quantum mechanics
From the economic viewpoint, multi‐terminal voltage‐source converter high voltage direct current (VSC HVDC) transmission system configurations have many advantages over point‐to‐point VSC HVDC systems in large‐scale wind power transmission scenarios. In these scenarios, the economic benefits comparison between point‐to‐point and multi‐terminal VSC HVDC systems based on the security‐constrained optimal power flow analysis is the main target of this paper. It is revealed that compared to point‐to‐point VSC HVDC systems, the proposed multi‐terminal VSC HVDC systems have the following economic benefits. More effective economic load dispatch can be achieved. In addition, the wheeling charge produced by the multi‐terminal VSC HVDC systems is also higher due to the higher multi‐terminal VSC HVDC systems' capacity factor. The lower fuel costs and higher wheeling charge of the multi‐terminal VSC HVDC systems are reflected in the annual cash inflow. The economic benefits of the multi‐terminal VSC HVDC systems are proved by calculating the higher Net Present Value (NPV) and Profitability Index (PI) values of the systems. © 2018 Institute of Electrical Engineers of Japan. Published by John Wiley & Sons, Inc.