Technical and economic value of utility-scale wind-storage hybrid power plants

Conference paper (2021)

Authors

M.K. Mehta Wind Energy - Aerospace Engineering
G.J. van Holthoon Wind Energy - Aerospace Engineering
D.A. von Terzi Wind Energy - Aerospace Engineering
M B Zaaijer Wind Energy - Aerospace Engineering
Research Group
Wind Energy (Aerospace Engineering) (TU Delft)
Copyright: © 2021 M.K. Mehta, G.J. van Holthoon, D.A. von Terzi, M B Zaaijer
More Info
expand_more

Published Date

2021

Language

English

Reuse Rights

Other than for strictly personal use, it is not permitted to download, forward or distribute the text or part of it, without the consent of the author(s) and/or copyright holder(s), unless the work is under an open content license such as Creative Commons.

Faculty

Aerospace Engineering

Department

Flow Physics and Technology

Research Group

Wind Energy

Abstract

The potential technical benefits of wind-storage hybrids, mainly arbitrage, imbalance reduction, and frequency support, are convincing enough to launch demonstration projects. However, a quantitative analysis of these benefits, including economic considerations, is lacking. The aim of this study is to establish at what costs such technical benefits can be achieved, and whether developers reap sufficient economic advantage to make the development of such hybrid plants attractive. A wind-storage power plant is simulated for arbitrage, imbalance revenue maximization, and secondary frequency support using the Internal Rate of Return as a parameter to measure the economic performance. It is found that, for a wind-farm developer, deploying batteries just for arbitrage and/or imbalance revenue maximization does not improve profitability at current levels of battery costs. However, there is a strong economic incentive for a wind farm developer to deploy batteries to participate in the secondary frequency market.

Files

HPSC_HYB21_67.pdf
(.pdf | 0.733 Mb)