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

Ove Wolfgang | Zendy; Arild Lote Henden | Zendy; Michael Belsnes | Zendy; Christoph Baumann | Zendy; Andreas Maaz | Zendy; Andreas Schäfer | Zendy; Albert Moser | Zendy; Michaela Harasta | Zendy; Trygve Døble | Zendy

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

Author(s) -

Ove Wolfgang,

Arild Lote Henden,

Michael Belsnes,

Christoph Baumann,

Andreas Maaz,

Andreas Schäfer,

Albert Moser,

Michaela Harasta,

Trygve Døble

Publication year - 2016

Publication title -

energy procedia

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.474

H-Index - 81

ISSN - 1876-6102

DOI - 10.1016/j.egypro.2015.12.348

Subject(s) - profitability index , environmental economics , hydropower , scheduling (production processes) , wind power , solar power , investment (military) , business , economics , industrial organization , natural resource economics , computer science , operations research , operations management , engineering , power (physics) , finance , electrical engineering , politics , political science , law , physics , quantum mechanics

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%.

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