An Efficient Power System Planning Model Considering Year-Round Hourly Operation Simulation

High renewable energy penetration increases the electricity seasonal imbalance in the long-term timescale. Power system planning needs to consider the optimal configuration of various flexibility resources and electricity balance in different timescales. The coupling of multiple timescales largely increases the computation complexity of the power system planning problem. Thus, this paper presents an efficient source-grid-storage co-planning model which incorporates a year-round hourly operation simulation. To improve the computation efficiency of the planning model, from the temporal scale, a self-adaptive compact panorama time series (CPTS) model is applied, which greatly reduces the number of variables related to short-term decisions. From the spatial scale, a network-constrained relaxed clustered unit commitment (NC-RCUC) model is introduced, which significantly reduces the number of variables related to unit commitment decisions. Case studies on the modified Garver's 6-node system and HRP-38 system prove the validation and efficiency of the proposed model ("HRP" stands for high renewable penetration). The studies on the China power grid in 2035 demonstrate the future planning results of generation, transmission and storage in China power systems based on the proposed model.