NDLI: Wave spectra, wave conversion device performance, and integration into electricity markets

Content Provider	IEEE Xplore Digital Library
Author	Roesler, G.
Copyright Year	2011
Description	Author affiliation: Information Sciences Institute, University of Southern California, Marina del Rey, USA (Roesler, G.)
Abstract	Electricity production from ocean waves has the theoretical advantages of higher capacity factor, lower short-term variability, and longer forecasting horizons, when compared to wind and photovoltaic sources. Potential applications of wave-generated energy, in light of these advantages, include: energy services; regulating reserves; and contingency reserves. To provide these services reliably and economically, the time variability of the wave energy resource must be clearly understood. Also, these services are provided in the context of real-time or day-ahead energy markets. The objective of this work is to assess whether the typical properties of wave energy converters, possibly enhanced with small amounts of energy storage, can result in energy products that have high value in these markets, providing highly reliable, constant power over predictable periods. We examine wave spectra from National Data Buoy Center buoys and convert them to representative time series. The wave time series are input to a generic wave converter model to generate output power characteristics. Some power takeoff devices inherently contain energy storage of small capacity; the smoothing effect of these is examined, along with larger amounts of storage. Finally the economic implications of variability and storage are calculated using recent, typical wholesale electricity prices. Investment in energy storage equivalent to 5 minutes' worth of nameplate capacity is found to pay off in less than two years.
Starting Page	1
Ending Page	7
File Size	860238
Page Count	7
File Format	PDF
ISBN	9781457714276
e-ISBN	9780933957398
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2011-09-19
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	MTS
Subject Keyword	Time series analysis Production Ocean waves Electricity Energy storage Economics Density measurement economic return ocean waves wave energy converter National Data Buoy Center variability electricity markets
Content Type	Text
Resource Type	Article

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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