Optimal Generation Expansion Planning With Weather-Dependent Generation and Transmission

Generation Expansion Planning is used to obtain future planning decisions that ensure the system reliability while minimizing cost. However, the past decade has seen an increase in weather-dependent faults in the electric grid, higher shares of weather-dependent renewable generation, and increased reliance on weather-dependent dynamic line ratings. To account for those dependencies, we propose a two-stage stochastic generation expansion planning model integrates leverages a spatial weather model to assess the generation and transmission line availability. This includes both variations of renewable generation capacity factors and dynamic line rating, and weather-dependent outage rates. The proposed framework is tested using a synthetic network, demonstrating that dynamic line rating outperforms static line ratings by reducing total operational costs and load shedding.