November 25, 2020
Achieving high levels of renewable integration is technically feasible—however, economic impacts vary dramatically depending on policies, regulations, investments, and many other issues that present hard choices. Objective analyses of the trade-offs often rely on market studies using production cost modeling (PCM) to perform cost/benefit analyses of future scenarios and to compare likely impacts of alternative choices. PCM attempts to represent the actual physics and business practices that govern system operations through power-system fundamental analysis. This is in contrast to technical analysis that attempts to forecast future conditions through trend analysis and through relationships with explanatory variables that may not be based on a “fundamental” description of physics or practice. [caption id="attachment_7054"…
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