Optimal investment and operational planning of a storage power plant
| Autor: | Hasan Huseyin Coban, Antans Sauļus Sauhats, Karlis Baltputnis, Zane Broka, Roman Petrichenko, Renata Varfolomejeva |
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| Rok vydání: | 2016 |
| Předmět: |
Pumped-storage hydroelectricity
Power station Renewable Energy Sustainability and the Environment business.industry 020209 energy 05 social sciences Energy Engineering and Power Technology Time horizon 02 engineering and technology Environmental economics Condensed Matter Physics Investment (macroeconomics) Energy storage Renewable energy Fuel Technology 0502 economics and business 0202 electrical engineering electronic engineering information engineering Operational planning 050207 economics business Hydropower |
| Zdroj: | International Journal of Hydrogen Energy. 41:12443-12453 |
| ISSN: | 0360-3199 |
| Popis: | Liberalization of electricity markets and dissemination of renewable energy sources leads to the variability of electricity prices, intermittency of generation and thus the necessity to develop new electrical energy storage systems for integration of renewables. Due to the high volatilities, stochastic optimization methods need to be applied for operational and investment planning of power plants. This paper presents a stochastic approach to solving a combined optimization problem for short-term scheduling and long-term investment planning of storage power plants for 30-year long planning horizon. The proposed methodology is applied to cost-benefit analysis of stand-alone storage plants operating under market conditions through price arbitrage: pumped hydropower plant and hydrogen storage plant. The results show that the pumped hydropower plant is profitable, whereas the hydrogen storage plant project is not economically viable without additional support. Possible economic incentives resulting in a profitable hydrogen storage plant are examined. |
| Databáze: | OpenAIRE |
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