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Optimal offering strategy for a concentrating solar power plant

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  • Dominguez, R.
  • Baringo, L.
  • Conejo, A.J.

Abstract

This paper provides a methodology to build offering curves for a concentrating solar power plant. This methodology takes into account the uncertainty in the thermal production from the solar field and the volatility of market prices. The solar plant owner is a price-taker producer that participates in a pool-based electricity market with the aim of maximizing its expected profit. To enhance the value of the concentrating solar power plant, a molten salt heat storage is considered, which allows producing electricity during periods without availability of the solar resource. To derive offering curves, a mixed-integer linear programming model is proposed, which is robust from the point of view of the uncertainty associated with the thermal production of the solar field and stochastic from the point of view of the uncertain market prices.

Suggested Citation

  • Dominguez, R. & Baringo, L. & Conejo, A.J., 2012. "Optimal offering strategy for a concentrating solar power plant," Applied Energy, Elsevier, vol. 98(C), pages 316-325.
    • Handle: RePEc:eee:appene:v:98:y:2012:i:c:p:316-325
    DOI: 10.1016/j.apenergy.2012.03.043
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    References listed on IDEAS

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    1. Conejo, Antonio J. & Contreras, Javier & Espinola, Rosa & Plazas, Miguel A., 2005. "Forecasting electricity prices for a day-ahead pool-based electric energy market," International Journal of Forecasting, Elsevier, vol. 21(3), pages 435-462.
    2. Janjai, S. & Laksanaboonsong, J. & Seesaard, T., 2011. "Potential application of concentrating solar power systems for the generation of electricity in Thailand," Applied Energy, Elsevier, vol. 88(12), pages 4960-4967.
    3. A. Ben-Tal & A. Nemirovski, 1998. "Robust Convex Optimization," Mathematics of Operations Research, INFORMS, vol. 23(4), pages 769-805, November.
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    5. Klaiß, Helmut & Köhne, Rainer & Nitsch, Joachim & Sprengel, Uwe, 1995. "Solar thermal power plants for solar countries -- Technology, economics and market potential," Applied Energy, Elsevier, vol. 52(2-3), pages 165-183.
    6. Cavallaro, Fausto, 2010. "Fuzzy TOPSIS approach for assessing thermal-energy storage in concentrated solar power (CSP) systems," Applied Energy, Elsevier, vol. 87(2), pages 496-503, February.
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