Improving wind power market value with various aspects of diversification

The wind generation share in many European bidding zones is now large enough to affect the market value of wind power, and wind energy is getting less-than-average market price in day-ahead markets. As alternatives to investing in dedicated energy storage, there are two main ways to mitigate the dec...

Full description

Saved in:
Bibliographic Details
Main Authors: Vrana, Til Kristian, Svendsen, Harald Georg, Korpås, Magnus, Couto, António, Estanqueiro, Ana, Flynn, Damian, Holttinen, Hannele, Härtel, Philipp, Koivisto, Matti, Lantz, Eric, Frew, Bethany
Format: Book
Language:English
Online Access:Request full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The wind generation share in many European bidding zones is now large enough to affect the market value of wind power, and wind energy is getting less-than-average market price in day-ahead markets. As alternatives to investing in dedicated energy storage, there are two main ways to mitigate the decreasing market value trend. The first is employing different diversification measures (geographical spread, alternative wind turbine technologies, integration with solar). The second is implementing demand flexibility measures. Examples of these measures from some European and USA studies are given in this article, which stems from the international collaboration under IEA Wind TCP Tasks 25 and 53.