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Optimization of CSP Plants with Thermal Energy Storage for Electricity Price Stability in Spot Markets

Author

Listed:
  • David Borge-Diez

    (Department of Electrical Engineering, Systems and Automation, University of León, 24008 Leon, Spain)

  • Enrique Rosales-Asensio

    (Department of Electrical Engineering, University of Las Palmas de Gran Canaria, Campus de Tafira S/N, 35017 Las Palmas de Gran Canaria, Spain)

  • Ana I. Palmero-Marrero

    (Institute of Science and Innovation in Mechanical and Industrial Engineering (INEGI), University of Porto-FEUP, R. Dr. Roberto Frias 400, 4200-465 Porto, Portugal)

  • Emin Acikkalp

    (Mechanical Engineering Department, Faculty of Engineering, Eskisehir Technical University, Eskisehir 26555, Turkey)

Abstract

This research presents a novel optimization strategy for concentrating solar power (CSP) plants with thermal energy storage (TES) systems that aims to stabilize and reduce electricity prices in spot markets. In the current international scenario of initiatives with regulatory changes aiming to reduce climate change effects and therefore CO 2 emissions, many countries are reducing the fossil fuel share in their respective electrical systems and increasing electrical renewable energy systems. These carbon free generation systems have inherent problems such as their intermittence which, combined with the lack of high-scale energy storage systems, cause a stability risk in electrical grid systems and require conventional fuel systems to match demand and production. In this research, we analyze spot price markets using a marginal price system that relies on natural gas and is quite sensitive to an increase in fuel prices, causing a direct increase in the final energy cost in systems with a high renewable energy share, and we study how optimally sized CSP plants with TES can be used as manageable solar energy systems and contribute to both price and grid stability. For the Spanish market, we analyze the ongoing market situation and generation mix and we present an optimization scheme using the System Advisor Model (SAM) software that aims to maximize energy availability throughout the day and contribute to peak generation. The results show that the optimization strategy increases the profitability of CSP plants but also ensures a contribution to spot price stability and reduction. A sensibility analysis is presented, and a case study is analyzed in southern Spain. The results show the importance of optimized CSP plants in an energy transition and a strategy is proposed that can be extended to other locations worldwide.

Suggested Citation

  • David Borge-Diez & Enrique Rosales-Asensio & Ana I. Palmero-Marrero & Emin Acikkalp, 2022. "Optimization of CSP Plants with Thermal Energy Storage for Electricity Price Stability in Spot Markets," Energies, MDPI, vol. 15(5), pages 1-25, February.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:5:p:1672-:d:756975
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    References listed on IDEAS

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    Cited by:

    1. Philipp Bagus & José Antonio Peña-Ramos, 2023. "Energy Security and the Transition toward Green Energy Production," Energies, MDPI, vol. 16(6), pages 1-4, March.
    2. Margherita Perrero & Davide Papurello, 2023. "Solar Disc Concentrator: Material Selection for the Receiver," Energies, MDPI, vol. 16(19), pages 1-11, September.
    3. Wei Liao & Yi Yang & Qingwei Wang & Ruoyu Wang & Xieli Fu & Yinghua Xie & Junhua Zhao, 2023. "Interpretable Hybrid Experiment Learning-Based Simulation Analysis of Power System Planning under the Spot Market Environment," Energies, MDPI, vol. 16(12), pages 1-17, June.

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