{"product_id":"the-economics-of-climate-resilience-in-power-infrastructure-isbn-9781394220755","title":"The Economics of Climate Resilience in Power Infrastructure","description":"\u003cp\u003e\u003cb\u003eFull-scope economic perspectives on planning, operations management, and maintenance of climate resilience building measures in power infrastructure\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe Economics of Climate Resilience in Power Infrastructure\u003c\/i\u003e sheds light on the engineering economics of climate adaptation in electric power infrastructure by covering the relevant decision-making processes involved in managing risk and resilience in these systems. The book offers a system-level perspective along with detailed modeling of the most pressing resilience issues, while also providing detailed numerical examples on small test systems throughout the text to help readers see the outcomes of models. \u003c\/p\u003e\u003cp\u003eThe book starts with an introduction to risk management and the techno-economic considerations for resilience building measures in power systems. Next, economic concepts and mechanisms for managing climate risk in power systems are introduced. Afterward, an economic model for resilience investment in these systems against climate shocks is presented. The authors then discuss an economic asset management model for long-term resilience building in critical infrastructure assets. Subsequently, an economic model for operations management during disasters is proposed, followed by a model for post-disaster restoration. \u003c\/p\u003e\u003cp\u003eWritten by a pair of distinguished thought leaders, the book explores other topics such as: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eMicrogrid applications for decentralization, along with an economic model for resilience-oriented microgrid operations\u003c\/li\u003e \u003cli\u003eA deep defense framework for climate risk management in power systems, along with other factors influencing their operational and financial resilience\u003c\/li\u003e \u003cli\u003eEssential climate risk financing mechanisms and techno-economic factors in managing risk and resilience in the face of wildfires, heat waves, and hurricanes\u003c\/li\u003e \u003cli\u003eSteps for utility and infrastructure owners to recover from climate shocks and natural disasters, for the benefit of shareholders, ratepayers, and policymakers\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003e\u003ci\u003eThe Economics of Climate Resilience in Power Infrastructure\u003c\/i\u003e is an essential resource on the subject for industry practitioners, R\u0026amp;D engineers, infrastructure planners, and graduate students seeking to incorporate the economics of resilience with engineering solutions to streamline the success of climate adaptation measures in the power and energy industry. \u003c\/p\u003e\u003cp\u003eAbout the Authors xi\u003c\/p\u003e \u003cp\u003eForeword xiii\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 Introduction 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 The Art of Climate Resilience 1\u003c\/p\u003e \u003cp\u003e1.2 Climate Risk in Power Infrastructure 4\u003c\/p\u003e \u003cp\u003e1.3 Resilience Metrics in Power Systems 8\u003c\/p\u003e \u003cp\u003e1.4 Economic Impacts of Climate Shocks and Natural Disasters 10\u003c\/p\u003e \u003cp\u003e1.5 Overview 12\u003c\/p\u003e \u003cp\u003eReferences 13\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 The Economics of Financial Resilience Against Natural Disasters 17\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Principles of Risk Management 17\u003c\/p\u003e \u003cp\u003e2.1.1 A Three-Lines-of-Defense Framework 17\u003c\/p\u003e \u003cp\u003e2.1.2 Operational and Financial Resilience 18\u003c\/p\u003e \u003cp\u003e2.2 Climate Risk Financing Mechanisms 21\u003c\/p\u003e \u003cp\u003e2.3 A Financial Resilience Building Framework Using CAT Bonds 26\u003c\/p\u003e \u003cp\u003e2.4 Wildfire Simulation Modeling 28\u003c\/p\u003e \u003cp\u003e2.4.1 Geographic Data 28\u003c\/p\u003e \u003cp\u003e2.4.2 Meteorological Data 29\u003c\/p\u003e \u003cp\u003e2.4.3 Power Grid Data 29\u003c\/p\u003e \u003cp\u003e2.4.4 Ignition Points 29\u003c\/p\u003e \u003cp\u003e2.5 Case Studies 31\u003c\/p\u003e \u003cp\u003e2.5.1 Total Damages 31\u003c\/p\u003e \u003cp\u003e2.5.2 Total Cost 32\u003c\/p\u003e \u003cp\u003e2.5.3 Premium Calculation 33\u003c\/p\u003e \u003cp\u003e2.6 Summary 34\u003c\/p\u003e \u003cp\u003eReferences 35\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 The Economics of Resilience-Centered Asset Management 37\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Principles of Resilience-Centered Asset Management 37\u003c\/p\u003e \u003cp\u003e3.2 Economic Variables for Resilience-Centered Asset Management 41\u003c\/p\u003e \u003cp\u003e3.2.1 State Space 42\u003c\/p\u003e \u003cp\u003e3.2.2 Hurricane Survival Modeling 44\u003c\/p\u003e \u003cp\u003e3.2.3 Transition Probabilities 47\u003c\/p\u003e \u003cp\u003e3.2.4 Action Space 48\u003c\/p\u003e \u003cp\u003e3.3 Economic Asset Management Model 49\u003c\/p\u003e \u003cp\u003e3.3.1 Problem Formulation 49\u003c\/p\u003e \u003cp\u003e3.3.2 Solution Method 51\u003c\/p\u003e \u003cp\u003e3.4 Case Study 53\u003c\/p\u003e \u003cp\u003e3.5 Summary 61\u003c\/p\u003e \u003cp\u003eReferences 62\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 The Economics of Capacity Planning for Climate Shocks 67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 Principles of Resilience Investment 67\u003c\/p\u003e \u003cp\u003e4.2 Climate Risk Assessment Variables 70\u003c\/p\u003e \u003cp\u003e4.3 An Economic Model for Resilience Investment 71\u003c\/p\u003e \u003cp\u003e4.3.1 Heatwave Risk Modeling 72\u003c\/p\u003e \u003cp\u003e4.3.2 Load Forecasting 73\u003c\/p\u003e \u003cp\u003e4.3.3 Stochastic Dynamic Thermal Rating 74\u003c\/p\u003e \u003cp\u003e4.3.4 Stochastic Power Dispatch 76\u003c\/p\u003e \u003cp\u003e4.3.5 Solution Scheme 77\u003c\/p\u003e \u003cp\u003e4.4 A Heatwave Case Study 78\u003c\/p\u003e \u003cp\u003e4.5 Summary 84\u003c\/p\u003e \u003cp\u003eReferences 85\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 The Economics of Resilience Planning in Power Infrastructure Expansion 89\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 Background 89\u003c\/p\u003e \u003cp\u003e5.2 Economic Variables for Expansion Planning 91\u003c\/p\u003e \u003cp\u003e5.2.1 Investment Problem 92\u003c\/p\u003e \u003cp\u003e5.2.2 Security and Optimal Operation Problems 92\u003c\/p\u003e \u003cp\u003e5.2.3 Topology Control 93\u003c\/p\u003e \u003cp\u003e5.2.4 Cuts 93\u003c\/p\u003e \u003cp\u003e5.2.5 Solution Procedure 93\u003c\/p\u003e \u003cp\u003e5.3 An Economic Model for Resilience Planning in Infrastructure Expansion 94\u003c\/p\u003e \u003cp\u003e5.3.1 Optimal Plan 95\u003c\/p\u003e \u003cp\u003e5.3.2 Security Check 96\u003c\/p\u003e \u003cp\u003e5.3.3 Optimal Operation 99\u003c\/p\u003e \u003cp\u003e5.4 Case Studies 100\u003c\/p\u003e \u003cp\u003e5.4.1 Six-Bus System 100\u003c\/p\u003e \u003cp\u003e5.4.2 IEEE 118-Bus System 105\u003c\/p\u003e \u003cp\u003e5.5 Summary 112\u003c\/p\u003e \u003cp\u003eReferences 113\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 The Economics of Operational Risk Management in the Face of Natural Disasters 117\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Principles of Operations Management Against Wildfires 117\u003c\/p\u003e \u003cp\u003e6.2 Variables for Quantifying Risk and Vulnerability Against Wildfires 121\u003c\/p\u003e \u003cp\u003e6.2.1 Closing the Data Gap 121\u003c\/p\u003e \u003cp\u003e6.2.2 Wildfire Scenarios Generation 123\u003c\/p\u003e \u003cp\u003e6.2.3 Wildfire Spread Simulation 123\u003c\/p\u003e \u003cp\u003e6.2.4 Impact Analysis 124\u003c\/p\u003e \u003cp\u003e6.2.5 Network Modification 124\u003c\/p\u003e \u003cp\u003e6.2.5.1 Impacted Components Removal 124\u003c\/p\u003e \u003cp\u003e6.2.5.2 Virtual High-Cost Generators Placement 125\u003c\/p\u003e \u003cp\u003e6.3 A Model for Quantifying Risk and Vulnerability Against Wildfires 126\u003c\/p\u003e \u003cp\u003e6.3.1 Power Flow Analysis 126\u003c\/p\u003e \u003cp\u003e6.3.2 Data Analysis 127\u003c\/p\u003e \u003cp\u003e6.3.2.1 Vulnerability 127\u003c\/p\u003e \u003cp\u003e6.3.2.2 Risk 128\u003c\/p\u003e \u003cp\u003e6.3.2.3 Impact 128\u003c\/p\u003e \u003cp\u003e6.4 A Case Study for Wildfires 128\u003c\/p\u003e \u003cp\u003e6.5 Summary 138\u003c\/p\u003e \u003cp\u003eReferences 138\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 The Economics of Pre-Disaster Resource Mobilization 143\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Principles of Resource Mobilization 143\u003c\/p\u003e \u003cp\u003e7.2 Economic Variables in Resource Mobilization 146\u003c\/p\u003e \u003cp\u003e7.3 An Economic Model for Pre-Event Resource Mobilization 147\u003c\/p\u003e \u003cp\u003e7.3.1 Objective Function 148\u003c\/p\u003e \u003cp\u003e7.3.2 Constraints 149\u003c\/p\u003e \u003cp\u003e7.3.2.1 Resource Constraint 149\u003c\/p\u003e \u003cp\u003e7.3.2.2 Damage State of Generation Units 149\u003c\/p\u003e \u003cp\u003e7.3.2.3 Damage State of Substations 150\u003c\/p\u003e \u003cp\u003e7.3.2.4 Damage State of Transmission Lines 150\u003c\/p\u003e \u003cp\u003e7.3.2.5 Load Balance Constraint 151\u003c\/p\u003e \u003cp\u003e7.3.2.6 Power Generation Constraints 151\u003c\/p\u003e \u003cp\u003e7.3.2.7 Power Flow Constraints 151\u003c\/p\u003e \u003cp\u003e7.3.2.8 Unit Commitment Constraints 152\u003c\/p\u003e \u003cp\u003e7.3.2.9 Nonanticipativity 152\u003c\/p\u003e \u003cp\u003e7.3.3 Proposed Solution Scheme 153\u003c\/p\u003e \u003cp\u003e7.3.3.1 Scenario Construction and Reduction 153\u003c\/p\u003e \u003cp\u003e7.3.3.2 Decomposition Strategy 153\u003c\/p\u003e \u003cp\u003e7.4 A Case Study for Hurricanes 155\u003c\/p\u003e \u003cp\u003e7.5 Summary 159\u003c\/p\u003e \u003cp\u003eReferences 160\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 The Economics of Contingency Planning Under Extreme Events 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 Background 163\u003c\/p\u003e \u003cp\u003e8.2 An Economic Model for Contingency Planning 167\u003c\/p\u003e \u003cp\u003e8.2.1 UC Problem (Optimal Hourly Schedule of Units) 167\u003c\/p\u003e \u003cp\u003e8.2.2 TC Problem 167\u003c\/p\u003e \u003cp\u003e8.2.2.1 TC Feasibility Check 167\u003c\/p\u003e \u003cp\u003e8.2.2.2 Optimal TC Scheduling 169\u003c\/p\u003e \u003cp\u003e8.2.2.3 Transmission Check in Contingencies 170\u003c\/p\u003e \u003cp\u003e8.3 Case Studies 172\u003c\/p\u003e \u003cp\u003e8.3.1 Six-Bus System 172\u003c\/p\u003e \u003cp\u003e8.3.2 IEEE 118-Bus System 177\u003c\/p\u003e \u003cp\u003e8.4 Summary 183\u003c\/p\u003e \u003cp\u003eReferences 184\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 The Economics of Decentralization Through Microgrids 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 Principles of Microgrids 187\u003c\/p\u003e \u003cp\u003e9.2 Economic Variables for Decentralized Power Systems 190\u003c\/p\u003e \u003cp\u003e9.3 An Economic Model for Resilience-Oriented Microgrid Operations 192\u003c\/p\u003e \u003cp\u003e9.4 Case Study 197\u003c\/p\u003e \u003cp\u003e9.5 Summary 203\u003c\/p\u003e \u003cp\u003eReferences 203\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 The Economics of Post-Disaster Restoration 207\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10.1 Principles of Power System Restoration 207\u003c\/p\u003e \u003cp\u003e10.1.1 Planning Stage 207\u003c\/p\u003e \u003cp\u003e10.1.2 Operating Stage 209\u003c\/p\u003e \u003cp\u003e10.2 Economic Variables in System Restoration 211\u003c\/p\u003e \u003cp\u003e10.3 A Generic Economic Model for Post-Disaster Restoration 212\u003c\/p\u003e \u003cp\u003e10.3.1 Objective Function 212\u003c\/p\u003e \u003cp\u003e10.3.2 Constraints 213\u003c\/p\u003e \u003cp\u003e10.3.2.1 Damage State Modeling 213\u003c\/p\u003e \u003cp\u003e10.3.2.2 Resource Constraints 214\u003c\/p\u003e \u003cp\u003e10.3.2.3 Load Balance Constraints 215\u003c\/p\u003e \u003cp\u003e10.3.2.4 Real Power Generation Constraints 215\u003c\/p\u003e \u003cp\u003e10.3.2.5 Power Flow Constraints 216\u003c\/p\u003e \u003cp\u003e10.3.2.6 Startup and Shutdown Cost Constraints 216\u003c\/p\u003e \u003cp\u003e10.3.2.7 Full Restoration Constraint 217\u003c\/p\u003e \u003cp\u003e10.3.2.8 Ramp-Up and Ramp-Down Constraints 217\u003c\/p\u003e \u003cp\u003e10.3.2.9 Minimum Up-Time and Down-Time Constraints 218\u003c\/p\u003e \u003cp\u003e10.3.3 Decomposition Strategy 219\u003c\/p\u003e \u003cp\u003e10.4 Case Study 220\u003c\/p\u003e \u003cp\u003e10.5 Summary 226\u003c\/p\u003e \u003cp\u003eReferences 227\u003c\/p\u003e \u003cp\u003eIndex 231\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eAli Arabnya, PhD,\u003c\/b\u003e is the Director of Infrastructure Finance and Climate Risk with Quanta Technology and a Research Professor of Electrical and Computer Engineering with the University of Denver. He works at the interface of engineering, finance, and policy in addressing climate change mitigation and adaptation. He holds a PhD in Industrial Engineering from the University of Houston.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eAmin Khodaei, PhD,\u003c\/b\u003e is a Professor of Electrical and Computer Engineering at the University of Denver. He is also the Founder of Plug LLC, an energy sector consultancy. His research interests include emerging technologies for grid modernization and climate resilience. He holds a PhD in Electrical Engineering from the Illinois Institute of Technology.    \u003c\/p\u003e\u003cp\u003e\u003cb\u003eFull-scope economic perspectives on planning, operations management, and maintenance of climate resilience building measures in power infrastructure\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe Economics of Climate Resilience in Power Infrastructure\u003c\/i\u003e sheds light on the engineering economics of climate adaptation in electric power infrastructure by covering the relevant decision-making processes involved in managing risk and resilience in these systems. The book offers a system-level perspective along with detailed modeling of the most pressing resilience issues, while also providing detailed numerical examples on small test systems throughout the text to help readers see the outcomes of models. \u003c\/p\u003e\u003cp\u003eThe book starts with an introduction to risk management and the techno-economic considerations for resilience building measures in power systems. Next, economic concepts and mechanisms for managing climate risk in power systems are introduced. Afterward, an economic model for resilience investment in these systems against climate shocks is presented. The authors then discuss an economic asset management model for long-term resilience building in critical infrastructure assets. Subsequently, an economic model for operations management during disasters is proposed, followed by a model for post-disaster restoration. \u003c\/p\u003e\u003cp\u003eWritten by a pair of distinguished thought leaders, the book explores other topics such as: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eMicrogrid applications for decentralization, along with an economic model for resilience-oriented microgrid operations\u003c\/li\u003e \u003cli\u003eA deep defense framework for climate risk management in power systems, along with other factors influencing their operational and financial resilience\u003c\/li\u003e \u003cli\u003eEssential climate risk financing mechanisms and techno-economic factors in managing risk and resilience in the face of wildfires, heat waves, and hurricanes\u003c\/li\u003e \u003cli\u003eSteps for utility and infrastructure owners to recover from climate shocks and natural disasters, for the benefit of shareholders, ratepayers, and policymakers\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003e\u003ci\u003eThe Economics of Climate Resilience in Power Infrastructure\u003c\/i\u003e is an essential resource on the subject for industry practitioners, R\u0026amp;D engineers, infrastructure planners, and graduate students seeking to incorporate the economics of resilience with engineering solutions to streamline the success of climate adaptation measures in the power and energy industry.\u003c\/p\u003e","brand":"Wiley-IEEE Press","offers":[{"title":"Default Title","offer_id":47990211444965,"sku":"NP9781394220755","price":140.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781394220755.jpg?v=1761786922","url":"https:\/\/k12savings.com\/es\/products\/the-economics-of-climate-resilience-in-power-infrastructure-isbn-9781394220755","provider":"K12savings","version":"1.0","type":"link"}