Value of energy storage for transmission investments

Khastieva, Dina; Hesamzadeh, Mohammad Reza; Vogelsang, Ingo; Rosellón, Juan; Amelin, Mikael

doi:10.1016/j.esr.2019.01.008

Cited by 23 publications

(5 citation statements)

References 21 publications

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“…In the second group, the models integrate ES market participation with centralized planning [13] [14], and usually have a bi-level structure, with the upper-level ES market participation component representing investment decisions by ES developers and the lower-level centralized planning process representing a system operator's decision. Reference [13] investigates the contribution of ES to the growth of social welfare in TEP and the impact of a capacity remuneration mechanism of the transmission network (referred to as incentive regulation in this paper) on the need and value of ES. The authors propose a bi-level optimization problem for TEP that considers the transmission sector as a natural monopoly operated by an ISO, and where the ES sector is operated under a competitive market environment.…”

Section: Literature Reviewmentioning

confidence: 99%

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A Computational Framework for Energy Storage Participation in Transmission Planning with Electricity Market Participation

Zhou¹,

Kwon²,

Jhala³

et al. 2022

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from the HydroWIRES program at WPTO, for sponsoring the project and providing valuable feedbacks.We also acknowledge the contributions of our partners on this project: Jeremy Twitchell of Pacific Northwest National Laboratory, who have assisted in developing this work with principles of energy storage dual-use in transmission services and market participation identified in a separated project report.Additionally, we acknowledge and appreciate the feedback and insightful comments provided throughout this project by many others, including David Kates of Nevada Hydro, Ziad Alaywan of ZGlobal Inc., Kun Zhu of the Midcontinent Independent System Operator (MISO), and Parag Mitra of the Electric Power Research Institute. We are deeply grateful to these individuals for lending their time and expertise to help the team better understand the impediments to dual-use storage and think through the potential implications of different approaches. The conclusions presented in this report are solely the responsibility of the authors. HydroWIRESIn April 2019, WPTO launched the HydroWIRES Initiative 1 to understand, enable, and improve hydropower and pumped storage hydropower's (PSH's) contributions to reliability, resilience, and integration in the rapidly evolving U.S. electricity system. The unique characteristics of hydropower, including PSH, make it well suited to provide a range of storage, generation flexibility, and other grid services to support the cost-effective integration of variable renewable resources.The U.S. electricity system is rapidly evolving, bringing both opportunities and challenges for the hydropower sector. While increasing deployment of variable renewables such as wind and solar have enabled low-cost, clean energy in many U.S. regions, it has also created a need for resources that can store energy or quickly change their operations to ensure a reliable and resilient grid. Hydropower (including PSH) is not only a supplier of bulk, low-cost, renewable energy but also a source of large-scale flexibility and a force multiplier for other renewable power generation sources. Realizing this potential requires innovation in several areas: understanding value drivers for hydropower under evolving system conditions, describing flexible capabilities and associated tradeoffs associated with hydropower meeting system needs, optimizing hydropower operations and planning, and developing innovative technologies that enable hydropower to operate more flexibly.

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Section: Literature Reviewmentioning

confidence: 99%

“…Most of the models are validated based on some forms of grid test systems, including the IEEE RTS 24-bus system [11]- [12], [25]- [24], or its variation [10]; Garver's 6-bus system [10]- [13], [23]; and IEEE 118-bus system [13], [26]. Some test systems are stylized to loosely represent a simplified real-world system.…”

Section: Literature Reviewmentioning

confidence: 99%

A Computational Framework for Energy Storage Participation in Transmission Planning with Electricity Market Participation

Zhou¹,

Kwon²,

Jhala³

et al. 2022

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“…From the perspective of transmission network incentive regulation, the impacts of energy storage on transmission planning are investigated in ref. [13]. A scenario-based method is proposed in ref.…”

Section: Introductionmentioning

confidence: 99%

Coordinate sizing of energy storage and transmission line for a remote renewable power plant

Xie

Wei

et al. 2022

IET Renewable Power Gen

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To protect the environment and reduce carbon emissions, renewable power generation has been growing rapidly during the past decade. Renewable energy resources are sometimes far away from the main grid, leading to expensive grid‐connection transmission lines. Deploying on‐site energy storage can smooth the output power and help to reduce the renewable power spillage and the requirement of transmission line capacity. This paper presents a method to coordinately size on‐site energy storage and grid‐connection transmission line for a remote renewable power plant, minimising the total investment cost subject to the constraint of renewable curtailment risk. Through an optimal operation model, the renewable curtailment is proven to be a piecewise affine function of capacity parameters and renewable power generation, and a linear programming‐based algorithm is proposed to generate an approximate expression. A distributionally robust optimisation model is proposed to determine the sizes. The renewable generation uncertainty is modelled by a Wasserstein‐metric‐based ambiguity set containing probability distributions around the empirical distribution constructed from the historical data. The utilisation rate is ensured in the worst‐case distribution. The sizing problem is transformed into a tractable linear program. The case study demonstrates the effectiveness of the proposed method.

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“…(3) Study the single value of energy storage in a certain scenario. Khastieva D (2019) proposes a mathematical model of incorporating regulatory constraints into commercial regulatory investment planning [24]. In IEEE 118 bus system, the case study of 6-node shows that energy storage investment is a supplement to transmission expansion and helps to improve social welfare value.…”

Section: Introductionmentioning

confidence: 99%

Research on Comprehensive Value of Electrical Energy Storage in CCHP Microgrid with Renewable Energy Based on Robust Optimization

Zhao

Wang

et al. 2020

Energies

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The combined cooling, heating, and power (CCHP) microgrid system is good for energy gradient utility. At the same time, it can promote the renewable energy (RE) consumption and abate environmental pollution. In a CCHP microgrid system, the electrical energy storage (EES), which can storage and release electrical energy, plays an indispensable role. A robust optimization model of the CCHP microgrid participating in power market transaction is constructed to calculate the CCHP microgrid operation cost in 4 cases. The results show that the EES can significantly reduce the cost of the CCHP microgrid by 13.21%, compared with 8.36% in Group 1 without renewable energy. The EES can reduce the reserved capacity of micro gas turbine units to deal with the precariousness of RE generation and then reduce the CCHP microgrid operation cost by reducing the purchase of energy from the power grid and arbitrage. Finally, the calculation method of comprehensive value of the EES is constructed. The comprehensive value of the EES is higher in Group 2 with renewable energy compared with Group 1 without renewable energy. Through net present value (NPV) calculation and sensitivity analysis, it is found that the RE penetration level and EES cost have the greatest impact on the economic performance of EES. This shows that with the continuous rising of the RE penetration level and the gradual decrease of EES cost, great potential still waits to be tapped in the comprehensive value of EES in the future.

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Value of energy storage for transmission investments

Cited by 23 publications

References 21 publications

A Computational Framework for Energy Storage Participation in Transmission Planning with Electricity Market Participation

A Computational Framework for Energy Storage Participation in Transmission Planning with Electricity Market Participation

Coordinate sizing of energy storage and transmission line for a remote renewable power plant

Research on Comprehensive Value of Electrical Energy Storage in CCHP Microgrid with Renewable Energy Based on Robust Optimization

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