Capacity credit value calculation for centralized wind and PV bundled power

A capacity credit calculation method for wind and PV bundled power is proposed in this paper. The reliability models for wind power, PV power and load are set up by hourly data and stochastic probability distribution. The correlation between different renewable power and the correlation between renewable power and load are modeled in detail. And the complementarity between wind power and PV power is modeled. An effective load-carrying capability (ELCC) calculation based on rapid chord method is used to determine capacity credit. Monte Carlo simulation based on Latin Hyper-cube sampling and parallel computation is used for reliability assessment. The proposed method is validated in IEEE-79 system and the complementarity for wind and PV bundled power is analyzed.