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Reconstructing Renewable Energy: Making Wind and Solar Power Dispatchable, Reliable and Efficient

Author

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  • Eric L. Prentis

    (College of Business & Public Management, Wenzhou-Kean University, Wenzhou, China.)

Abstract

This paper is important because it explains how to create a grid-scale energy storage system (ESS) that makes, for the first time, wind and solar renewable energy dispatchable, reliable and efficient. Existing and recent discoveries in battery technology are analyzed, with the most appropriate recommended for use in the new ESS. Additionally, an innovative time-shifting ESS design approach is presented that decouples electricity production from use, considerably improving total wind and solar power peak average capacity contribution values. This minimizes the need for expensive standby natural-gas combustion turbine peaker plants thereby decreasing costs by 75%. Furthermore, this advanced ESS improves performance by making the interconnection grid more reliable and better able to handle changing customer demands, relieves transmission congestion, and decreases unscheduled power outages and also provides ancillary services; thereby improving system-wide benefits by 30-to-40%, further reducing effective ESS costs, perhaps to zero.

Suggested Citation

  • Eric L. Prentis, 2016. "Reconstructing Renewable Energy: Making Wind and Solar Power Dispatchable, Reliable and Efficient," International Journal of Energy Economics and Policy, Econjournals, vol. 6(1), pages 128-133.
    • Handle: RePEc:eco:journ2:2016-01-18
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    References listed on IDEAS

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    1. Meng-Chang Lin & Ming Gong & Bingan Lu & Yingpeng Wu & Di-Yan Wang & Mingyun Guan & Michael Angell & Changxin Chen & Jiang Yang & Bing-Joe Hwang & Hongjie Dai, 2015. "An ultrafast rechargeable aluminium-ion battery," Nature, Nature, vol. 520(7547), pages 324-328, April.
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    Cited by:

    1. Zhang, Chao & Wei, Yi-Li & Cao, Peng-Fei & Lin, Meng-Chang, 2018. "Energy storage system: Current studies on batteries and power condition system," Renewable and Sustainable Energy Reviews, Elsevier, vol. 82(P3), pages 3091-3106.
    2. Svetlana Ratner & Yuri Chepurko & Larisa Drobyshecskaya & Anna Petrovskaya, 2018. "Management of Energy Enterprises: Energy-efficiency Approach in Solar Collectors Industry: The Case of Russia," International Journal of Energy Economics and Policy, Econjournals, vol. 8(4), pages 237-243.

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    More about this item

    Keywords

    Renewable Energy; Efficiency; Dispatchable; Grid-Scale Energy Storage System;
    All these keywords.

    JEL classification:

    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • H44 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Goods: Mixed Markets
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law

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