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| Content Provider | IET Digital Library |
|---|---|
| Author | Tohidi, Yaser Gibescu, Madeleine |
| Abstract | In this study, a stochastic optimisation model is proposed to investigate revenue streams for flow batteries type of energy storage (ES) in a set-up consisting of photovoltaic (PV) solar plant and load. Revenue streams investigated are (i) arbitrage in electricity markets between day-ahead market (DAM) and imbalance market (IM) and (ii) self-consumption of local PV production via storage for supplying the peak load. Stochastic parameters are represented by a set of scenarios and include DAM and IM prices of electricity, solar irradiation and load level. Scenarios are generated by analysing the historical data of the stochastic parameters. A stopping criterion based on the relative change of the revenue is proposed in order to reach a sufficient number of scenarios. The simulation is done on the Dutch DAM and IM electricity prices and for two residential and office load profiles with 107 kW average load and ∼30% PV production. The candidate flow batteries investigated are based on hydrogen-bromine chemistry with different power and energy capacities. The results reveal the potential for a positive business case both for ES stand-alone generation revenue just through arbitrage and also for ES added to PV-load set-up generation revenue through arbitrage and self-consumption. |
| Starting Page | 555 |
| Ending Page | 562 |
| Page Count | 8 |
| ISSN | 17521416 |
| Volume Number | 13 |
| e-ISSN | 17521424 |
| Issue Number | Issue 4, Mar (2019) |
| Alternate Webpage(s) | https://digital-library.theiet.org/content/journals/iet-rpg/13/4 |
| Alternate Webpage(s) | https://digital-library.theiet.org/content/journals/10.1049/iet-rpg.2018.5788 |
| Journal | IET Renewable Power Generation |
| Publisher Date | 2018-12-11 |
| Access Restriction | Open |
| Rights Holder | © The Institution of Engineering and Technology |
| Subject Keyword | Battery Storage Plants Day-ahead Market Electricity Market Energy Capacities Energy Storage ES Stand-alone Generation ES Stand-alone Generation Revenue Flow Batteries Flow Battery Storage System Imbalance Market Optimisation Technique Other Power Stations And Plant Photovoltaic Power System Power 107.0 KW Power Market Power System Economics Power System Managemen Power System Operation Pricing PV Production PV-load Set-up Generation Revenue Residential Office Load Profile Solar Irradiation Solar Power Stations Stochastic Optimisation Model Stochastic Programming |
| Content Type | Text |
| Resource Type | Article |
| Subject | Renewable Energy, Sustainability and the Environment |
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