Renewable energy sources (RES) have strong uncertainties, which significantly increase the risks of power imbalance and load shedding in composite power systems. It is thus necessary to evaluate the operational reliability for guiding economic dispatch and reducing the risks. Current methods cannot meet the requirement for the operational timeliness of reliability evaluations due to the high computational complexity of the optimal power flow (OPF) calculations of massive contingencies. This paper proposes a fully analytical approach to construct fast-to-run analytical functions of reliability indices and avoid reassessments when the load and RES change. The approach consists of uniform design (UD)-based contingency screening and a modified stochastic response surface method (mSRSM). The contingency screening method is used to select critical contingencies while considering the uncertainties. The mSRSM is used to construct the analytical functions of the load shedding to the load and RES generation for the selected contingencies. An analytical function of a smooth virtual variable that maps to the load shedding is established in such a way that, when the load and RES vary, the reliability can be assessed within a very short time rather than using laborious OPF calculations. Case studies illustrate the excellent performance of the proposed method for real-time reliability evaluation.

Renewable energy sources (RES) have strong uncertainties, which significantly increase the risks of power imbalance and load shedding in composite power systems. It is thus necessary to evaluate the operational reliability for guiding economic dispatch and reducing the risks. Current methods cannot meet the requirement for the operational timeliness of reliability evaluations due to the high computational complexity of the optimal power flow (OPF) calculations of massive contingencies. This paper proposes a fully analytical approach to construct fast-to-run analytical functions of reliability indices and avoid reassessments when the load and RES change. The approach consists of uniform design (UD)-based contingency screening and a modified stochastic response surface method (mSRSM). The contingency screening method is used to select critical contingencies while considering the uncertainties. The mSRSM is used to construct the analytical functions of the load shedding to the load and RES generation for the selected contingencies. An analytical function of a smooth virtual variable that maps to the load shedding is established in such a way that, when the load and RES vary, the reliability can be assessed within a very short time rather than using laborious OPF calculations. Case studies illustrate the excellent performance of the proposed method for real-time reliability evaluation.