To prevent blackouts, renewable energy sources need to be backed up with conventional power sources. Solar power is inherently unreliable, fluctuating with time of day and degree of cloudiness. Wind power is a victim of air flow patterns. In effect, they require virtually 100% backup with fossil, nuclear, hydro sources of power to prevent blackouts. Think of the repercussions of a solar eclipse and calm winds on renewable energy output, which occurred in Europe in 2015.
How do we insure a reliable energy supply? Roy Nersesian models the complexities of this problem – and demonstrates solutions – using @RISK for Excel.
More detailed information, and models, are included in Roy's book Energy Risk Modeling.
Roy Nersesian is a professor at the Leon Hess Business School at Monmouth University in New Jersey. He is the author of Energy Risk Modeling published by Palisade Corporation. This book is an outgrowth of his teaching energy modeling at Columbia University. He is also the author of Energy Economics recently published by Routledge.