Flexibility in smart transmission planning

With the increasing level of variability and uncertainty in the electricity grid due to increased penetration of renewable energy and demand-side resources, the current electricity infrastructure needs to be enhanced to allow for a greater level of flexibility in the grid. The value of flexibility has been largely ignored in the operational, planning, and regulatory aspects of electricity transmission. Using simple models and case studies, this paper demonstrates the value of real power flow control devices for short-term operational flexibility and long-term investment flexibility. This paper reinforces the need to develop metrics for flexibility and to create computational tools to quantify flexibility in the transmission sector. Such tools and metrics will allow us to better design flexible, IT-enabled pricing, regulatory, and planning framework to support the development of a smart transmission system.