Optimal operation of battery for wind-storage hybrid power plant

Abstract

<div>In order to participate in energy market, variable renewable energy sources need to reduce the uncertainty of forecast errors. Inclusion of storage can be a viable option not only to minimize the penalties due to forecast uncertainties but also to maximize the revenue generation. This paper presents a</div><div>decision framework for respecting the market constraints and maximise the revenues of a wind and storage power plant. Wind power and price forecast are used in convex optimisation algorithm for making day ahead decisions on battery operation. This day ahead optimisation results feed to an algorithm for operating in the balancing market. Several scenarios and case studies have been simulated to assess the value of storage for revenue maximization of a wind power plant. The results show that proposed algorithms can increase the revenue by more than 10% compared to the operation of wind power plant without battery.</div>

Economic performance of an overplanted offshore wind farm under several commitment strategies and dynamic thermal ratings of submarine export cable

“…For the sake of clarity, it is necessary to highlight that, in this paper, we use the term overplanting relative to the network capacity of OWFs. This term is used in both the onshore and offshore wind industry, but also in the photovoltaic industry [20], [52], [53], as well as for hybrid power plants [25], [29], [38], [39], [46], [54]- [60].…”

Two-stage stochastic optimization frameworks to aid in decision-making under uncertainty for variable resource generators participating in a sequential energy market

“…As such, this work will also include an economic model to make decisions regarding the financial feasibility of installing an ESS to the plant. Research has shown the theoretical and practical significance of integrating storage to a wind farm, mainly for adding an arbitrage potential of WF-ESS participating in multistage spot EMs, and thus leading to a total profit improvement [2], [3].…”

“…Wind forecast errors are unavoidable and therefore WFs are forced to take corrective actions which are generally costly [3], [4]. To mitigate, we need to take uncertainty into consideration by using a stochastic approach, as well as make full use of the balancing and intraday markets.…”

Decision making under uncertainty for variable resource generators participating in energy markets

“…Many factors make decision-making for VRRGs complicated. Although sophisticated forecasting techniques exist, forecast errors are unavoidable and Wind Farms (WFs) are forced to take corrective actions, which usually result in lower profits [8], [9]. To mitigate, we need to develop a decision-making framework that takes uncertainty into consideration.…”

“…Constraint (9) defines the amount of energy stored in ESS in every time step as a function of the initial conditions, power entering and leaving the ESS, and the efficiency of the charging and discharging processes. The efficiency of the charging, 𝜂𝜂 𝑤𝑤𝑤𝑤 and discharging 𝜂𝜂 𝑜𝑜𝑜𝑜𝑜𝑜 of the ESS are considered to be constants in the open interval (0,1) .…”