Speaker: Dr. Fikri Küçüksayacıgil
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Meeting ID: 654 774 6234
Abstract: Policy makers are supporting renewable energy goals in order to address global climate change. One impediment to reach these goals is constraints on infrastructure. For the electric power sector, transmission lines have proven to be important bottlenecks to further expansion of renewable energy. Transmission expansion investments have long lead times and are subject to numerous uncertainties in deregulated markets. Similarly, for the fuels sector, recent issues in transportation of renewable power equipment will likely slow down the pace of decarbonization. Shipping companies face backlogs of ship building orders at shipyards and increasing cost of ship building materials. They may need to look for alternatives of buying new ships (e.g., capacity expansion) to increase transportation capability. Capacity expansion on existing ships requires an investment during the initial design phase, which is paid off with the benefit of larger cargo spaces. Trade-off between initial cost and financial benefit of extra cargo space is a challenging problem under demand uncertainty. This talk tries to answer (i) how should transmission expansion investments be planned under demand and distributed generation uncertainties and (ii) how should shipping companies strike a balance between capital investments while building a ship and subordinate capacity expansion costs? It also addresses an ongoing work of least-cost expansion of transmission networks in the western U.S. to meet green energy goals under jurisdictional uncertainties.