What question did this study set out to answer?

This research aims to evaluate the cost-effectiveness of wind energy and explore its economic limitations in electrical power systems.

A Monte-Carlo Simulation Method for the Economic Assessment of the Contribution of Wind Energy to Power Systems

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Randomized trial assesses cost-effectiveness of wind energy in power systems, indicating economic potential for integration.

This research aims to evaluate the cost-effectiveness of wind energy and explore its economic limitations in electrical power systems.
Utilized a Monte-Carlo simulation to model hour-by-hour power system operations.
Simulated random variations in wind and load conditions over a selected one-year period.
Included operating constraints from conventional energy generation methods.
The simulation reveals detailed insights into the economic feasibility of wind energy integration.
Two practical applications demonstrate varying outcomes based on the hourly operation simulations.
The method outlines potential economic benefits while highlighting the limitations of wind energy penetration.

Desrochers et al. (1986) studied this question.

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