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Economic evaluation of the dual mode CAES solution for increased wind energy contribution in autonomous island networks

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  • Zafirakis, D.
  • Kaldellis, J.K.

Abstract

Wind parks operating in autonomous island grids, such as those encountered in the Aegean Archipelago, face considerable wind energy curtailments, owed to the inability of local electricity networks to absorb the entire wind energy production. On the other hand, plans promoting the natural gas-based electricity generation in big islands (such as Crete) question the future of wind energy. To recover wind energy curtailments and benefit from the introduction of natural gas, the adoption of compressed air energy storage (CAES) systems suggests an appreciable energy solution. Furthermore, to improve the economic performance of the proposed system, it is decided that guaranteed energy amounts should be delivered to the local grid during peak demand periods. In an effort to obtain favourable negotiation conditions - for the selling price of energy delivered - and also improve the economic performance of the system, a dual mode CAES operation is currently examined. Proceeding to the economic evaluation of dual mode CAES configurations that ensure maximum wind energy recovery, the feasibility of the proposed system may be validated. Lower electricity production costs and considerable reduction of fuel consumption achieved - in comparison with the requirements of conventional peak demand power units - illustrate the system's advantages.

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  • Zafirakis, D. & Kaldellis, J.K., 2009. "Economic evaluation of the dual mode CAES solution for increased wind energy contribution in autonomous island networks," Energy Policy, Elsevier, vol. 37(5), pages 1958-1969, May.
    • Handle: RePEc:eee:enepol:v:37:y:2009:i:5:p:1958-1969
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    3. Díaz-González, Francisco & Sumper, Andreas & Gomis-Bellmunt, Oriol & Villafáfila-Robles, Roberto, 2012. "A review of energy storage technologies for wind power applications," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(4), pages 2154-2171.
    4. Lavidas, George, 2019. "Energy and socio-economic benefits from the development of wave energy in Greece," Renewable Energy, Elsevier, vol. 132(C), pages 1290-1300.
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    6. Wenyi Liu & Linzhi Liu & Gang Xu & Feifei Liang & Yongping Yang & Weide Zhang & Ying Wu, 2014. "A Novel Hybrid-Fuel Storage System of Compressed Air Energy for China," Energies, MDPI, vol. 7(8), pages 1-23, August.
    7. Nyamdash, Batsaikhan & Denny, Eleanor, 2013. "The impact of electricity storage on wholesale electricity prices," Energy Policy, Elsevier, vol. 58(C), pages 6-16.
    8. Rabiee, Abdorreza & Khorramdel, Hossein & Aghaei, Jamshid, 2013. "A review of energy storage systems in microgrids with wind turbines," Renewable and Sustainable Energy Reviews, Elsevier, vol. 18(C), pages 316-326.
    9. George Lavidas & Vengatesan Venugopal, 2018. "Energy Production Benefits by Wind and Wave Energies for the Autonomous System of Crete," Energies, MDPI, vol. 11(10), pages 1-14, October.
    10. Briola, Stefano & Di Marco, Paolo & Gabbrielli, Roberto & Riccardi, Juri, 2016. "A novel mathematical model for the performance assessment of diabatic compressed air energy storage systems including the turbomachinery characteristic curves," Applied Energy, Elsevier, vol. 178(C), pages 758-772.
    11. Vatanpour, Mohsen & Sadeghi Yazdankhah, Ahmad, 2018. "The impact of energy storage modeling in coordination with wind farm and thermal units on security and reliability in a stochastic unit commitment," Energy, Elsevier, vol. 162(C), pages 476-490.
    12. Madlener, Reinhard & Latz, Jochen, 2009. "Centralized and Integrated Decentralized Compressed Air Energy Storage for Enhanced Grid Integration of Wind Power," FCN Working Papers 2/2009, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN), revised Sep 2010.
    13. Briola, Stefano & Di Marco, Paolo & Gabbrielli, Roberto & Riccardi, Juri, 2017. "Sensitivity analysis for the energy performance assessment of hybrid compressed air energy storage systems," Applied Energy, Elsevier, vol. 206(C), pages 1552-1563.
    14. Zafirakis, Dimitrios & Chalvatzis, Konstantinos J. & Baiocchi, Giovanni & Daskalakis, Georgios, 2016. "The value of arbitrage for energy storage: Evidence from European electricity markets," Applied Energy, Elsevier, vol. 184(C), pages 971-986.

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