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Power System Simulation
Electrical power system simulation involves power system modeling and network simulation in order to analyze electrical power systems using design/offline or real-time data. Power system simulation software's are a class of computer simulation programs that focus on the operation of electrical power systems. These types of computer programs are used in a wide range of planning and operational situations for electric power systems. Applications of power system simulation include: long-term generation and transmission expansion planning, short-term operational simulations, and market analysis (e.g. price forecasting). These programs typically make use of mathematical optimization techniques such linear programming, quadratic programming, and mixed integer programming. Multiple elements of a power system can be modelled. A power-flow study calculates the loading on transmission lines and the power necessary to be generated at generating stations, given the required loads to be served ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computer Simulation
Computer simulation is the process of mathematical modelling, performed on a computer, which is designed to predict the behaviour of, or the outcome of, a real-world or physical system. The reliability of some mathematical models can be determined by comparing their results to the real-world outcomes they aim to predict. Computer simulations have become a useful tool for the mathematical modeling of many natural systems in physics (computational physics), astrophysics, climatology, chemistry, biology and manufacturing, as well as human systems in economics, psychology, social science, health care and engineering. Simulation of a system is represented as the running of the system's model. It can be used to explore and gain new insights into new technology and to estimate the performance of systems too complex for analytical solutions. Computer simulations are realized by running computer programs that can be either small, running almost instantly on small devices, or large ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Renewables
Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat. Although most renewable energy sources are sustainable, some are not. For example, some biomass sources are considered unsustainable at current rates of exploitation. Renewable energy often provides energy for electricity generation to a grid, air and water heating/cooling, and stand-alone power systems. Renewable energy technology projects are typically large-scale, but they are also suited to rural and remote areas and developing countries, where energy is often crucial in human development. Renewable energy is often deployed together with further electrification, which has several benefits: electricity can move heat or objects efficiently, and is clean at the point of consumption. In addition, electrification with renewable energy is more efficient and therefore le ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Siemens
Siemens AG ( ) is a German multinational conglomerate corporation and the largest industrial manufacturing company in Europe headquartered in Munich with branch offices abroad. The principal divisions of the corporation are ''Industry'', ''Energy'', ''Healthcare'' (Siemens Healthineers), and ''Infrastructure & Cities'', which represent the main activities of the corporation. The corporation is a prominent maker of medical diagnostics equipment and its medical health-care division, which generates about 12 percent of the corporation's total sales, is its second-most profitable unit, after the industrial automation division. In this area, it is regarded as a pioneer and the company with the highest revenue in the world. The corporation is a component of the Euro Stoxx 50 stock market index. Siemens and its subsidiaries employ approximately 303,000 people worldwide and reported global revenue of around €62 billion in 2021 according to its earnings release. History 1847 to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loss Of Load Expectation
Loss of load in an electrical grid is a term used to describe the situation when the available generation capacity is less than the system load. Multiple probabilistic reliability indices for the generation systems are using loss of load in their definitions, with the more popular being Loss of Load Probability (LOLP) that characterizes a probability of a loss of load occurring within a year. Loss of load events are calculated before the mitigating actions (purchasing electricity from other systems, load shedding) are taken, so a loss of load does not necessarily cause a blackout. Loss-of-load-based reliability indices Multiple reliability indices for the electrical generation are based on the loss of load being observed/calculated over a long interval (one or multiple years) in relatively small increments (an hour or a day). The total number of increments inside the long interval is designated as N (e.g., for a yearlong interval N=365 if the increment is a day, N=8760 if the i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independent System Operator
A regional transmission organization (RTO) in the United States is an electric power transmission system operator (TSO) that coordinates, controls, and monitors a multi-state electric grid. The transfer of electricity between states is considered interstate commerce, and electric grids spanning multiple states are therefore regulated by the Federal Energy Regulatory Commission (FERC). The voluntary creation of RTOs was initiated by FERC Order No. 2000, issued on December 20, 1999. The purpose of the RTO is to promote economic efficiency, reliability, and non-discriminatory practices while reducing government oversight. An independent system operator (ISO) is similarly an organization formed at the recommendation of FERC. In the areas where an ISO is established, it coordinates, controls, and monitors the operation of the electrical power system, usually within a single US state, but sometimes encompassing multiple states. RTOs typically perform the same functions as ISOs but cov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regional Transmission Organization (North America)
A regional transmission organization (RTO) in the United States is an electric power transmission system operator (TSO) that coordinates, controls, and monitors a multi-state electric grid. The transfer of electricity between states is considered interstate commerce, and electric grids spanning multiple states are therefore regulated by the Federal Energy Regulatory Commission (FERC). The voluntary creation of RTOs was initiated by FERC Order No. 2000, issued on December 20, 1999. The purpose of the RTO is to promote economic efficiency, reliability, and non-discriminatory practices while reducing government oversight. An independent system operator (ISO) is similarly an organization formed at the recommendation of FERC. In the areas where an ISO is established, it coordinates, controls, and monitors the operation of the electrical power system, usually within a single US state, but sometimes encompassing multiple states. RTOs typically perform the same functions as ISOs but cove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Electric
General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. The company operated in sectors including healthcare, aviation, power, renewable energy, digital industry, additive manufacturing and venture capital and finance, but has since divested from several areas, now primarily consisting of the first four segments. In 2020, GE ranked among the Fortune 500 as the 33rd largest firm in the United States by gross revenue. In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed. Two employees of GE – Irving Langmuir (1932) and Ivar Giaever (1973) – have been awarded the Nobel Prize. On November 9, 2021, the company announced it would divide itself into three investment-grade public companies. On July 18, 2022, GE unveiled the brand names of the companies it will ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heuristics
A heuristic (; ), or heuristic technique, is any approach to problem solving or self-discovery that employs a practical method that is not guaranteed to be optimal, perfect, or rational, but is nevertheless sufficient for reaching an immediate, short-term goal or approximation. Where finding an optimal solution is impossible or impractical, heuristic methods can be used to speed up the process of finding a satisfactory solution. Heuristics can be mental shortcuts that ease the cognitive load of making a decision. Examples that employ heuristics include using trial and error, a rule of thumb or an ansatz, educated guess. Heuristics are the strategies derived from previous experiences with similar problems. These strategies depend on using readily accessible, though loosely applicable, information to control problem solving in human beings, machines and abstract issues. When an individual applies a heuristic in practice, it generally performs as expected. However it can alternati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Imperfect Competition
In economics, imperfect competition refers to a situation where the characteristics of an economic market do not fulfil all the necessary conditions of a perfectly competitive market. Imperfect competition will cause market inefficiency when it happens, resulting in market failure. Imperfect competition is a term usually used to describe the seller's position, meaning that the level of competition between sellers falls far short of the level of competition in the market under ideal conditions. The structure of a market can significantly impact the financial performance and conduct of the firms competing within it. There is a causal relationship between structure, behaviour and performance paradigm. The characteristics of market structure can be measured by evaluating the degree of seller's market concentration to determine the nature of market competition. The degree of market power refers to the firms' ability to affect the price of a good and thus, raise the market price of the go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California Energy Crisis
California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the most populated subnational entity in North America and the 34th most populous in the world. The Greater Los Angeles area and the San Francisco Bay Area are the nation's second and fifth most populous urban regions respectively, with the former having more than 18.7million residents and the latter having over 9.6million. Sacramento is the state's capital, while Los Angeles is the most populous city in the state and the second most populous city in the country. San Francisco is the List of United States cities by population density, second most densely populated major city in the country. Los Angeles County, California, Los Angeles County is the country's List of the most populous counties in the United States, most populous, while San Bernar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Perfect Competition
In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition. In Economic model, theoretical models where conditions of perfect competition hold, it has been demonstrated that a Market (economics), market will reach an Economic equilibrium, equilibrium in which the quantity supplied for every Goods and services, product or service, including Workforce, labor, equals the quantity demanded at the current price. This equilibrium would be a Pareto optimum. Perfect competition provides both allocative efficiency and productive efficiency: * Such markets are ''allocatively efficient'', as output will always occur where marginal cost is equal to average revenue i.e. price (MC = AR). In perfect competition, any Profit maximization, profit-maximizing producer faces a market price equal to its marginal cost (P = MC). This implies that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monte Carlo Method
Monte Carlo methods, or Monte Carlo experiments, are a broad class of computational algorithms that rely on repeated random sampling to obtain numerical results. The underlying concept is to use randomness to solve problems that might be deterministic in principle. They are often used in physical and mathematical problems and are most useful when it is difficult or impossible to use other approaches. Monte Carlo methods are mainly used in three problem classes: optimization, numerical integration, and generating draws from a probability distribution. In physics-related problems, Monte Carlo methods are useful for simulating systems with many coupled degrees of freedom, such as fluids, disordered materials, strongly coupled solids, and cellular structures (see cellular Potts model, interacting particle systems, McKean–Vlasov processes, kinetic models of gases). Other examples include modeling phenomena with significant uncertainty in inputs such as the calculation of ris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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