Planning for reliable power system reliability depends on understanding peak demand. Peak demand determines the required power system capacity to meet reliability standards. Although peak demand will decrease in the future, it is still an important component of system planning. Peak demand is expected to decline by 0.14 percent annually by 2028.
ICAP
ICAP provides utilities with pricing signals that encourage investment and promote resource adequacy. The ICAP power plant in New York is typically used by utilities to meet peak loads and exceed wholesale tariff requirements. Federal regulators approve the purchase. ICAP is used to create mandatory capacity markets, such as ISO New England (PJM Interconnection). It is also used to create ICAPs in Texas and other States.
IRM
IRM is an essential component of the reliability rules applicable to New York's electricity grid. It determines the amount of supply resources that can satisfy peak demand. Based on the most current load models, it is calculated. It also considers energy storage and demand response technologies. These enable the lights to remain on during an outage.
DERs
Distributed energy resources, or DERs, offer power quality value through varying production and usage. This can reduce energy loss and prevent voltage excursions in distribution feeders. DERs can also supply more power to power plants in case of fluctuating demand.
Generator deactivation assessment
In order to lower ozone levels, the New York Independent System Operator (NYISO), has implemented stricter regulations for simple-cycle combustion turbine plant owners. Power plant owners will need to comply with the new rules in 2023 and 2025. 648 MW peak power generation capacity in New York has been phased out. 1,300 MW peak capacity is being retrofitted. New York's power plants have higher average temperatures than the rest of the country. Deactivation of these plants can cause higher than normal demand.
DER participation model
The DER participation model in NYISO is designed to ensure that DERs are connected to a transmission node that is capable of responding to dispatch instructions. This requirement is needed to protect New York's reliability. The DERs must meet specific criteria that meet the standards of the New York state Reliability Committee. These requirements include inverter based energy storage technology and aggregate capabilities.
Generating power
The state has been increasing its generating capacity in recent years with a special focus on the upstate. This is partly because the majority of state's electricity comes from less populous areas. Additionally, gridlock can occur when power lines transporting it downstate. In recent years, the state added 11,846MW of new generation. Most of that has come from renewables.
Renewable energy credits
New York State has announced plans expand its Renewable Energy Credits(RECs) program in order to boost renewable energy generation. This will help move New York toward its goal of 70 percent renewable energy by 2030 and the state's 2040 Zero Emission Target. It will also encourage the use of existing renewable energie sources, while protecting and improving local air quality.