Scheduling when Reservoirs are Batteries for Wind- and Solar-power

In this paper we take the perspective of a competitive hydropower producer located in Southern Norway, and calculate the profitability of investing in a pumped storage facility in price-scenario for Europe in 2050. A methodology to analyze the combined supply of day-ahead energy and real-time balanc...

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Bibliographic Details
Published in:Energy procedia 2016-01, Vol.87, p.173-180
Main Authors: Wolfgang, Ove, Henden, Arild Lote, Belsnes, Michael Martin, Baumann, Christoph, Maaz, Andreas, Schäfer, Andreas, Moser, Albert, Harasta, Michaela, Døble, Trygve
Format: Article
Language:English
Subjects:
balancing energy
hydropower
multi-market
pumped storage plant
renewable energy
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Summary:In this paper we take the perspective of a competitive hydropower producer located in Southern Norway, and calculate the profitability of investing in a pumped storage facility in price-scenario for Europe in 2050. A methodology to analyze the combined supply of day-ahead energy and real-time balancing is described and applied. A sequential optimization for optimal supply in each market is applied, utilizing the same resource cost for hydropower. When supplying balancing energy in addition to the supply in the day-ahead market, total income increase by only 2.2%. However, the additional income because of the investment increases by 21%.
ISSN:1876-6102
1876-6102
DOI:10.1016/j.egypro.2015.12.348