A method for controlling a wind farm connected to an electrical grid, the wind farm having a plurality of wind turbines, the method comprising: receiving, with a farm-level controller of the wind farm, a demand signal from the electrical grid; receiving, with the farm-level controller, a plurality of capability metrics from each of the plurality of wind turbines, the plurality of capability metrics include at least a steady-state power availability, a transient power characteristic, and a responsive capability of each wind turbine; determining, with the farm-level controller, a power production capability profile for each of the plurality of wind turbines by analyzing the plurality of capability metrics for each of the plurality of wind turbines; determining, with the farm-level controller, the availability of each of the plurality of wind turbines to meet at least a portion of the demand signal based on the power production capability profiles; determining, with the farm-level controller, which portion of the demand signal to be satisfied by each of the plurality of wind turbines based on the availability and the power production capability profile for each of the plurality of wind turbines, wherein determining which portion of the demand signal to be satisfied by each of the plurality of wind turbines comprises: determining, with the farm-level controller, an anticipated portion of the demand signal to be satisfied by the steady-state power availability for each of the plurality of wind turbines; determining, with the farm-level controller, an anticipated portion of the demand signal to be satisfied by the transient power characteristic for each of the plurality of wind turbines; and determining, with the farm-level controller, a remaining portion of the demand signal to be satisfied by a change in an operating state of each of the plurality of wind turbines; generating, with the farm-level controller, a power production command for each of the plurality of wind turbines; and transmitting the power production commands to the plurality of wind turbines so as to control a power output of each of the plurality of wind turbines. receiving, with a farm-level controller of the wind farm, a demand signal from the electrical grid; receiving, with the farm-level controller, a plurality of capability metrics from each of the plurality of wind turbines, the plurality of capability metrics include at least a steady-state power availability, a transient power characteristic, and a responsive capability of each wind turbine; determining, with the farm-level controller, a power production capability profile for each of the plurality of wind turbines by analyzing the plurality of capability metrics for each of the plurality of wind turbines; determining, with the farm-level controller, the availability of each of the plurality of wind turbines to meet at least a portion of the demand signal based on the power production capability profiles; determining, with the farm-level controller, which portion of the demand signal to be satisfied by each of the plurality of wind turbines based on the availability and the power production capability profile for each of the plurality of wind turbines, wherein determining which portion of the demand signal to be satisfied by each of the plurality of wind turbines comprises: determining, with the farm-level controller, an anticipated portion of the demand signal to be satisfied by the steady-state power availability for each of the plurality of wind turbines; determining, with the farm-level controller, an anticipated portion of the demand signal to be satisfied by the transient power characteristic for each of the plurality of wind turbines; and determining, with the farm-level controller, a remaining portion of the demand signal to be satisfied by a change in an operating state of each of the plurality of wind turbines; determining, with the farm-level controller, an anticipated portion of the demand signal to be satisfied by the steady-state power availability for each of the plurality of wind turbines; determining, with the farm-level controller, an anticipated portion of the demand signal to be satisfied by the transient power characteristic for each of the plurality of wind turbines; and determining, with the farm-level controller, a remaining portion of the demand signal to be satisfied by a change in an operating state of each of the plurality of wind turbines; generating, with the farm-level controller, a power production command for each of the plurality of wind turbines; and transmitting the power production commands to the plurality of wind turbines so as to control a power output of each of the plurality of wind turbines.