Impact of Storage Dispatch Assumptions on Resource Adequacy and Capacity Credit

Representing energy-limited resources in power system probabilistic resource adequacy assessment introduces new considerations that invalidate classical modeling assumptions. In particular, such resources have multi-period operating objectives and constraints that in real systems are addressed via a sequence of rolling intertemporal optimizations. Ideally, adequacy models would develop dispatch decisions by solving a similar sequence of problems, but this approach has historically been too computationally intensive for practical use in Monte Carlo simulations, with studies making use of simplifying approximations instead. These simplifications have the potential to distort the assessed value of energy-limited resources on the system. This work describes three classes of storage dispatch assumptions in current use and discusses their theoretical differences. It then provides an empirical analysis of their differences on test systems with different levels of storage, assessing the potential for a study's modeling assumptions to influence the perceived contribution of energy-limited resources.