Comparing Resource Adequacy Metrics: Preprint

As the penetration of variable generation (wind and solar) increases around the world, there is an accompanying growing interest and importance in accurately assessing the contribution that these resources can make toward planning reserve. This contribution, also known as the capacity credit or capacity value of the resource, is best quantified by using a probabilistic measure of overall resourceadequacy. In recognizing the variable nature of these renewable resources, there has been interest in exploring the use of reliability metrics other than loss of load expectation. In this paper, we undertake some comparisons using data from the Western Electricity Coordinating Council in the western United States.