The combined value of wind and solar power forecasting improvements and electricity storage

Bri Mathias Hodge, Carlo Brancucci Martinez-Anido, Qin Wang, Erol Chartan, Anthony Florita, Juha Kiviluoma

    Research output: Contribution to journalArticleScientificpeer-review

    18 Citations (Scopus)

    Abstract

    As the penetration rates of variable renewable energy increase, the value of power systems operation flexibility technology options, such as renewable energy forecasting improvements and electricity storage, is also assumed to increase. In this work, we examine the value of these two technologies, when used independently and concurrently, for two real case studies that represent the generation mixes for the California and Midcontinent Independent System Operators (CAISO and MISO). Since both technologies provide additional system flexibility they reduce operational costs and renewable curtailment for both generation mixes under study. Interestingly, the relative impacts are quite similar when both technologies are used together. Though both flexibility options can solve some of the same issues that arise with high penetration levels of renewables, they do not seem to significantly increase or decrease the economic potential of the other technology.

    Original languageEnglish
    Pages (from-to)1-15
    Number of pages15
    JournalApplied Energy
    Volume214
    DOIs
    Publication statusPublished - 15 Mar 2018
    MoE publication typeA1 Journal article-refereed

    Fingerprint

    solar power
    wind power
    Solar energy
    Wind power
    electricity
    Electricity
    penetration
    operations technology
    energy
    economics
    Economics
    cost
    Costs

    Keywords

    • Electricity storage
    • Power systems planning
    • Solar power forecasting
    • Solar power integration
    • Wind power forecasting
    • Wind power integration

    Cite this

    Hodge, Bri Mathias ; Brancucci Martinez-Anido, Carlo ; Wang, Qin ; Chartan, Erol ; Florita, Anthony ; Kiviluoma, Juha. / The combined value of wind and solar power forecasting improvements and electricity storage. In: Applied Energy. 2018 ; Vol. 214. pp. 1-15.
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    abstract = "As the penetration rates of variable renewable energy increase, the value of power systems operation flexibility technology options, such as renewable energy forecasting improvements and electricity storage, is also assumed to increase. In this work, we examine the value of these two technologies, when used independently and concurrently, for two real case studies that represent the generation mixes for the California and Midcontinent Independent System Operators (CAISO and MISO). Since both technologies provide additional system flexibility they reduce operational costs and renewable curtailment for both generation mixes under study. Interestingly, the relative impacts are quite similar when both technologies are used together. Though both flexibility options can solve some of the same issues that arise with high penetration levels of renewables, they do not seem to significantly increase or decrease the economic potential of the other technology.",
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    The combined value of wind and solar power forecasting improvements and electricity storage. / Hodge, Bri Mathias; Brancucci Martinez-Anido, Carlo; Wang, Qin; Chartan, Erol; Florita, Anthony; Kiviluoma, Juha.

    In: Applied Energy, Vol. 214, 15.03.2018, p. 1-15.

    Research output: Contribution to journalArticleScientificpeer-review

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    AU - Hodge, Bri Mathias

    AU - Brancucci Martinez-Anido, Carlo

    AU - Wang, Qin

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    AU - Kiviluoma, Juha

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    AB - As the penetration rates of variable renewable energy increase, the value of power systems operation flexibility technology options, such as renewable energy forecasting improvements and electricity storage, is also assumed to increase. In this work, we examine the value of these two technologies, when used independently and concurrently, for two real case studies that represent the generation mixes for the California and Midcontinent Independent System Operators (CAISO and MISO). Since both technologies provide additional system flexibility they reduce operational costs and renewable curtailment for both generation mixes under study. Interestingly, the relative impacts are quite similar when both technologies are used together. Though both flexibility options can solve some of the same issues that arise with high penetration levels of renewables, they do not seem to significantly increase or decrease the economic potential of the other technology.

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