Power System Capacity Expansion Under Higher Penetration of Renewables Considering Flexibility Constraints and Low Carbon Policies

Deploying high penetration of variable renewables represents a critical pathway for deep decarbonizing the power sector. The conflict between their temporal variability and limited system flexibility has been largely ignored currently at planning stage. Here, we present a novel capacity expansion model optimizing investment decisions and full-year, hourly power balances simultaneously, with consid...