Capacity configuration of a hydro-wind-solar-storage bundling system
The hydro-wind-solar-storage bundling system plays a critical role in solving spatial and temporal mismatch problems between renewable energy resources and the electric load
The hydro-wind-solar-storage bundling system plays a critical role in solving spatial and temporal mismatch problems between renewable energy resources and the electric load
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The energy storage plant cost is set as 150, 225, 300, 375 and 450$/kWh respectively. The energy storage plant’s optimum capacity of for a wind generation is calculated considering energy arbitrage, so is the annual benefit of wind-storage coupled system with the optimal capacity.
After energy storage is integrated into the wind farm, one part of the wind power generation is sold to the grid directly, and the other part is purchased and stored with a low price, and then is sold with a high price through the energy storage system.
When the energy storage system lifetime is of 10 years, and the cost is equal to or more than 375 $/kWh, the optimization configuration capacity is 0 MWh, which means no energy storage installation. The annual revenue of the simulated wind-storage system is 12.78 million dollars, which is purely from the sale of wind generation.
The revenue of wind-storage system is composed of wind generation revenue, energy storage income and its cost. With the TOU price, the revenue of the wind-storage system is determined by the total generated electricity and energy storage performance.