Benefit Benefit-Cost Analysis of Large Cost Analysis of Large-Scale Scale Transmission for Renewable Generation: Transmission for Renewable Generation: Transmission for Renewable Generation: Transmission for Renewable Generation: Principles & California Case Study Principles & California Case Study Keith E. Casey Market Monitoring Unit, CAISO Benjamin F. Hobbs Johns Hopkins University and CAISO Market Surveillance Committee Dariush Shirmohammadi Transmission South, CAISO Frank A Wolak Frank A. Wolak Stanford University and CAISO Market Surveillance Committee 0 CALIFORNIA ALIFORNIA ISO ISO STANFORD STANFORD UNIVERSITY UNIVERSITY Outline of Talk Outline of Talk 1. Renewable portfolio standards 2. Solving the Chicken-and-Egg quandary: “Third Category” of Transmission 3 Th C lif i TEAM hdl 3. The California TEAM methodology 4. Challenges in B/C analysis of renewables 5 Applications: Sunpath Tehachapi 5. Applications: Sunpath, Tehachapi