Hydrogen storage for wind parks: A real options evaluation for an optimal investment in more flexibility

Valuation of wind power distributed generation by using Longstaff–Schwartz option pricing method

“…Their work did not concentrate on the specificities of the primary energy (wind), but on the value of the premium in a feed-in tariff context that makes it interesting the production of wind power. In [13] the authors did model wind speed by using a Weibull distribution and claimed to employ a Monte Carlo approach to solve the RO problem of upgrading a wind power plant by means energy storage. In [14] the authors valuated the capability of switching between tariffs to improve revenues.…”

Experimental study on a laboratory scale Totalized Hydrogen Energy Utilization System for solar photovoltaic application

“…These problems urged on a need for clean and ecologically benign energy resources are crucial for the sustainable global economic growth. Over the last two decades, commendable efforts are being taken up by the researchers for promoting large scale use of renewable energy resources [1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17]. Renewable energy sources such as solar and wind energy are clean and abundant but both are intermittent power sources.…”

Expert Opinion Analysis on Renewable Hydrogen Storage Systems Potential in Europe

“…An economic evaluation was conducted for the first time with real option analysis (ROA) considering the irreversible character of the investment, the risk of fluctuating wind speed, fluctuating spot market price and fluctuating call of minute reserve capacity. Kroniger and Madlener results [41], elaborated under the 2014 prevailing technical and political boundary conditions in Germany, underlined a higher economic competitiveness in the case of direct marketing of the produced hydrogen from the 50 MW wind energy park under examination. As stated by [38], hydrogen transportation costs varies between 2 and 3 €/Kg depending on the travel distance.…”

“…This is further argued in [40]. Additionally, Kroniger and Madlener [41] investigated the economic viability of hydrogen storage for excess electricity produced in wind power plants, analysing two scenarios of a 50 MW wind system in Germany with and without re-electrification unit.…”