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The combined value of wind and solar power forecasting improvements and electricity storage

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  • Hodge, Bri-Mathias
  • Brancucci Martinez-Anido, Carlo
  • Wang, Qin
  • Chartan, Erol
  • Florita, Anthony
  • Kiviluoma, Juha

Abstract

As the penetration rates of variable renewable energy increase, the value of power systems operation flexibility technology options, such as renewable energy forecasting improvements and electricity storage, is also assumed to increase. In this work, we examine the value of these two technologies, when used independently and concurrently, for two real case studies that represent the generation mixes for the California and Midcontinent Independent System Operators (CAISO and MISO). Since both technologies provide additional system flexibility they reduce operational costs and renewable curtailment for both generation mixes under study. Interestingly, the relative impacts are quite similar when both technologies are used together. Though both flexibility options can solve some of the same issues that arise with high penetration levels of renewables, they do not seem to significantly increase or decrease the economic potential of the other technology.

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  • Hodge, Bri-Mathias & Brancucci Martinez-Anido, Carlo & Wang, Qin & Chartan, Erol & Florita, Anthony & Kiviluoma, Juha, 2018. "The combined value of wind and solar power forecasting improvements and electricity storage," Applied Energy, Elsevier, vol. 214(C), pages 1-15.
    • Handle: RePEc:eee:appene:v:214:y:2018:i:c:p:1-15
    DOI: 10.1016/j.apenergy.2017.12.120
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    16. Eppinger, Bernd & Zigan, Lars & Karl, Jürgen & Will, Stefan, 2020. "Pumped thermal energy storage with heat pump-ORC-systems: Comparison of latent and sensible thermal storages for various fluids," Applied Energy, Elsevier, vol. 280(C).
    17. Díaz, Guzmán & Coto, José & Gómez-Aleixandre, Javier, 2019. "Optimal operation value of combined wind power and energy storage in multi-stage electricity markets," Applied Energy, Elsevier, vol. 235(C), pages 1153-1168.
    18. Hou, Hui & Xu, Tao & Wu, Xixiu & Wang, Huan & Tang, Aihong & Chen, Yangyang, 2020. "Optimal capacity configuration of the wind-photovoltaic-storage hybrid power system based on gravity energy storage system," Applied Energy, Elsevier, vol. 271(C).
    19. Zheng, Lingwei & Liu, Zhaokun & Shen, Junnan & Wu, Chenxi, 2018. "Very short-term maximum Lyapunov exponent forecasting tool for distributed photovoltaic output," Applied Energy, Elsevier, vol. 229(C), pages 1128-1139.
    20. CH Hussaian Basha & C Rani, 2020. "Different Conventional and Soft Computing MPPT Techniques for Solar PV Systems with High Step-Up Boost Converters: A Comprehensive Analysis," Energies, MDPI, vol. 13(2), pages 1-27, January.
    21. Bernd Eppinger & Mustafa Muradi & Daniel Scharrer & Lars Zigan & Peter Bazan & Reinhard German & Stefan Will, 2021. "Simulation of the Part Load Behavior of Combined Heat Pump-Organic Rankine Cycle Systems," Energies, MDPI, vol. 14(13), pages 1-18, June.
    22. Wyman-Pain, Heather & Bian, Yuankai & Thomas, Cain & Li, Furong, 2018. "The economics of different generation technologies for frequency response provision," Applied Energy, Elsevier, vol. 222(C), pages 554-563.
    23. Henrik Zsiborács & Gábor Pintér & András Vincze & Nóra Hegedűsné Baranyai, 2022. "Wind Power Generation Scheduling Accuracy in Europe: An Overview of ENTSO-E Countries," Sustainability, MDPI, vol. 14(24), pages 1-58, December.
    24. Siavash Asiaban & Nezmin Kayedpour & Arash E. Samani & Dimitar Bozalakov & Jeroen D. M. De Kooning & Guillaume Crevecoeur & Lieven Vandevelde, 2021. "Wind and Solar Intermittency and the Associated Integration Challenges: A Comprehensive Review Including the Status in the Belgian Power System," Energies, MDPI, vol. 14(9), pages 1-41, May.
    25. Eppinger, Bernd & Steger, Daniel & Regensburger, Christoph & Karl, Jürgen & Schlücker, Eberhard & Will, Stefan, 2021. "Carnot battery: Simulation and design of a reversible heat pump-organic Rankine cycle pilot plant," Applied Energy, Elsevier, vol. 288(C).

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