Mitigation and adaptation: Assessing the multi-value benefits of transmission expansion

Previous research has shown that expanding transmission capacity facilitates the achievement of net-zero targets by improving variable renewable energy utilization. However, transmission expansion plans have traditionally only been assessed on the metrics of operational cost savings and curtailment reduction. In this study, a multi-value benefit planning framework has been applied to assess the value of transmission expansion more holistically, expanding past simply considering operational cost savings to include five other metrics: emission reduction, renewable expansion capital cost savings, risk mitigation under uncertain future conditions, resource adequacy analysis, and resilience benefits. This multi-value planning framework is used to assess transmission corridors that show significant opportunity for expansion under the Canadian Energy Regulations: British Columbia and Alberta, and Saskatchewan and Manitoba. Results indicate that there are significant benefits of expanding transmission in terms of improving the resilience and resource adequacy of the electricity grid, which have previously been unquantified with traditional transmission expansion assessments. These findings highlight that the value of transmission is not sufficiently captured through export revenues and that transmission is as much an adaptation initiative as a mitigation initiative.