Hu, ZhixiongXu, YijunKorkali, MertChen, XiaoMili, Lamine M.Tong, Charles H.2024-01-222024-01-22202097817281310302167-9665https://hdl.handle.net/10919/117516The increasing penetration of renewable energy resources in power systems, represented as random processes, converts the traditional deterministic economic dispatch problem into a stochastic one. To solve this stochastic economic dispatch, the conventional Monte Carlo method is prohibitively time consuming for medium- and large-scale power systems. To overcome this problem, we propose in this paper a novel Gaussian-process-emulator-based approach to quantify the uncertainty in the stochastic economic dispatch considering wind power penetration. Based on the dimension-reduction results obtained by the Karhunen-Loeve expansion, a Gaussian-process emulator is constructed. This surrogate allows us to evaluate the economic dispatch solver at sampled values with a negligible computational cost while maintaining a desirable accuracy. Simulation results conducted on the IEEE 118-bus system reveal that the proposed method has an excellent performance as compared to the traditional Monte Carlo method.5 page(s)application/pdfenPublic Domain (U.S.)Conference proceedinghttps://doi.org/10.1109/isgt45199.2020.9087714Mili, Lamine [0000-0001-6134-3945]