Integration of renewable energy sources using generation expansion planning

Generation expansion planning (GEP) problem is required for maintaining the system reliability and ensuring demand supply. GEP is usually determined by the infrastructure aging and growth of demand. This paper describes a perspective of the independent system operator's (ISO) regarding the expansion of generation capacity. The model presented can be adapted by ISO for satisfying the needs of any other system that requires generation expansion. The planner is encouraging investors to build new generation units, by determining the optimal plan through solving the mathematical model that minimizes the investment costs and maximizing the social welfare.