IDEAS home Printed from https://ideas.repec.org/a/eee/appene/v214y2018icp1-15.html
   My bibliography  Save this article

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

Author

Listed:
  • 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.

Suggested Citation

  • 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
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0306261917318445
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.apenergy.2017.12.120?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Weis, Allison & Jaramillo, Paulina & Michalek, Jeremy, 2014. "Estimating the potential of controlled plug-in hybrid electric vehicle charging to reduce operational and capacity expansion costs for electric power systems with high wind penetration," Applied Energy, Elsevier, vol. 115(C), pages 190-204.
    2. Tuohy, Aidan & Meibom, Peter & Denny, Eleanor & O'Malley, Mark, 2009. "Unit commitment for systems with significant wind penetration," MPRA Paper 34849, University Library of Munich, Germany.
    3. Lund, Peter D. & Lindgren, Juuso & Mikkola, Jani & Salpakari, Jyri, 2015. "Review of energy system flexibility measures to enable high levels of variable renewable electricity," Renewable and Sustainable Energy Reviews, Elsevier, vol. 45(C), pages 785-807.
    4. Wang, J. & Botterud, A. & Bessa, R. & Keko, H. & Carvalho, L. & Issicaba, D. & Sumaili, J. & Miranda, V., 2011. "Wind power forecasting uncertainty and unit commitment," Applied Energy, Elsevier, vol. 88(11), pages 4014-4023.
    5. Nyamdash, Batsaikhan & Denny, Eleanor & O'Malley, Mark, 2010. "The viability of balancing wind generation with large scale energy storage," Energy Policy, Elsevier, vol. 38(11), pages 7200-7208, November.
    6. Liu, Wen & Hu, Weihao & Lund, Henrik & Chen, Zhe, 2013. "Electric vehicles and large-scale integration of wind power – The case of Inner Mongolia in China," Applied Energy, Elsevier, vol. 104(C), pages 445-456.
    7. Draxl, Caroline & Clifton, Andrew & Hodge, Bri-Mathias & McCaa, Jim, 2015. "The Wind Integration National Dataset (WIND) Toolkit," Applied Energy, Elsevier, vol. 151(C), pages 355-366.
    8. Buttler, Alexander & Dinkel, Felix & Franz, Simon & Spliethoff, Hartmut, 2016. "Variability of wind and solar power – An assessment of the current situation in the European Union based on the year 2014," Energy, Elsevier, vol. 106(C), pages 147-161.
    9. de Sisternes, Fernando J. & Jenkins, Jesse D. & Botterud, Audun, 2016. "The value of energy storage in decarbonizing the electricity sector," Applied Energy, Elsevier, vol. 175(C), pages 368-379.
    10. James, Eric P. & Benjamin, Stanley G. & Marquis, Melinda, 2017. "A unified high-resolution wind and solar dataset from a rapidly updating numerical weather prediction model," Renewable Energy, Elsevier, vol. 102(PB), pages 390-405.
    11. Jónsson, Tryggvi & Pinson, Pierre & Madsen, Henrik, 2010. "On the market impact of wind energy forecasts," Energy Economics, Elsevier, vol. 32(2), pages 313-320, March.
    12. Wang, Qin & Wu, Hongyu & Florita, Anthony R. & Brancucci Martinez-Anido, Carlo & Hodge, Bri-Mathias, 2016. "The value of improved wind power forecasting: Grid flexibility quantification, ramp capability analysis, and impacts of electricity market operation timescales," Applied Energy, Elsevier, vol. 184(C), pages 696-713.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wang, Qin & Wu, Hongyu & Florita, Anthony R. & Brancucci Martinez-Anido, Carlo & Hodge, Bri-Mathias, 2016. "The value of improved wind power forecasting: Grid flexibility quantification, ramp capability analysis, and impacts of electricity market operation timescales," Applied Energy, Elsevier, vol. 184(C), pages 696-713.
    2. Ricardo Bessa & Carlos Moreira & Bernardo Silva & Manuel Matos, 2014. "Handling renewable energy variability and uncertainty in power systems operation," Wiley Interdisciplinary Reviews: Energy and Environment, Wiley Blackwell, vol. 3(2), pages 156-178, March.
    3. Ahmed, Adil & Khalid, Muhammad, 2019. "A review on the selected applications of forecasting models in renewable power systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 100(C), pages 9-21.
    4. Bistline, John & Blanford, Geoffrey & Mai, Trieu & Merrick, James, 2021. "Modeling variable renewable energy and storage in the power sector," Energy Policy, Elsevier, vol. 156(C).
    5. Waite, Michael & Modi, Vijay, 2016. "Modeling wind power curtailment with increased capacity in a regional electricity grid supplying a dense urban demand," Applied Energy, Elsevier, vol. 183(C), pages 299-317.
    6. Durmaz, Tunç, 2016. "Precautionary Storage in Electricity Markets," Discussion Papers 2016/5, Norwegian School of Economics, Department of Business and Management Science.
    7. Craig, Michael & Guerra, Omar J. & Brancucci, Carlo & Pambour, Kwabena Addo & Hodge, Bri-Mathias, 2020. "Valuing intra-day coordination of electric power and natural gas system operations," Energy Policy, Elsevier, vol. 141(C).
    8. Jenkins, J.D. & Zhou, Z. & Ponciroli, R. & Vilim, R.B. & Ganda, F. & de Sisternes, F. & Botterud, A., 2018. "The benefits of nuclear flexibility in power system operations with renewable energy," Applied Energy, Elsevier, vol. 222(C), pages 872-884.
    9. Nyamdash, Batsaikhan & Denny, Eleanor, 2013. "The impact of electricity storage on wholesale electricity prices," Energy Policy, Elsevier, vol. 58(C), pages 6-16.
    10. Soha, Tamás & Munkácsy, Béla & Harmat, Ádám & Csontos, Csaba & Horváth, Gergely & Tamás, László & Csüllög, Gábor & Daróczi, Henriett & Sáfián, Fanni & Szabó, Mária, 2017. "GIS-based assessment of the opportunities for small-scale pumped hydro energy storage in middle-mountain areas focusing on artificial landscape features," Energy, Elsevier, vol. 141(C), pages 1363-1373.
    11. Pusceddu, Elian & Zakeri, Behnam & Castagneto Gissey, Giorgio, 2021. "Synergies between energy arbitrage and fast frequency response for battery energy storage systems," Applied Energy, Elsevier, vol. 283(C).
    12. Denholm, Paul & Nunemaker, Jacob & Gagnon, Pieter & Cole, Wesley, 2020. "The potential for battery energy storage to provide peaking capacity in the United States," Renewable Energy, Elsevier, vol. 151(C), pages 1269-1277.
    13. Andrychowicz, Mateusz & Olek, Blazej & Przybylski, Jakub, 2017. "Review of the methods for evaluation of renewable energy sources penetration and ramping used in the Scenario Outlook and Adequacy Forecast 2015. Case study for Poland," Renewable and Sustainable Energy Reviews, Elsevier, vol. 74(C), pages 703-714.
    14. Felten, Björn & Weber, Christoph, 2018. "The value(s) of flexible heat pumps – Assessment of technical and economic conditions," Applied Energy, Elsevier, vol. 228(C), pages 1292-1319.
    15. Harrison-Atlas, Dylan & Murphy, Caitlin & Schleifer, Anna & Grue, Nicholas, 2022. "Temporal complementarity and value of wind-PV hybrid systems across the United States," Renewable Energy, Elsevier, vol. 201(P1), pages 111-123.
    16. Linas Gelažanskas & Kelum A. A. Gamage, 2016. "Distributed Energy Storage Using Residential Hot Water Heaters," Energies, MDPI, vol. 9(3), pages 1-13, February.
    17. Jae-Kun Lyu & Jae-Haeng Heo & Jong-Keun Park & Yong-Cheol Kang, 2013. "Probabilistic Approach to Optimizing Active and Reactive Power Flow in Wind Farms Considering Wake Effects," Energies, MDPI, vol. 6(11), pages 1-21, October.
    18. Azizipanah-Abarghooee, Rasoul & Golestaneh, Faranak & Gooi, Hoay Beng & Lin, Jeremy & Bavafa, Farhad & Terzija, Vladimir, 2016. "Corrective economic dispatch and operational cycles for probabilistic unit commitment with demand response and high wind power," Applied Energy, Elsevier, vol. 182(C), pages 634-651.
    19. Mc Garrigle, E.V. & Leahy, P.G., 2015. "Quantifying the value of improved wind energy forecasts in a pool-based electricity market," Renewable Energy, Elsevier, vol. 80(C), pages 517-524.
    20. Shin, Joohyun & Lee, Jay H. & Realff, Matthew J., 2017. "Operational planning and optimal sizing of microgrid considering multi-scale wind uncertainty," Applied Energy, Elsevier, vol. 195(C), pages 616-633.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:appene:v:214:y:2018:i:c:p:1-15. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.