Economic optimization of operations for hybrid energy systems under variable markets

Chen, Jen; Garcia, Humberto E.

doi:10.1016/j.apenergy.2016.05.056

Title: Economic optimization of operations for hybrid energy systems under variable markets

Journal Article · Sat May 21 00:00:00 EDT 2016 · Applied Energy

DOI:https://doi.org/10.1016/j.apenergy.2016.05.056· OSTI ID:1357460

Chen, Jen ^[1]; Garcia, Humberto E. ^[1]

Idaho National Lab. (INL), Idaho Falls, ID (United States)

We prosed a hybrid energy systems (HES) which is an important element to enable increasing penetration of clean energy. Our paper investigates the operations flexibility of HES, and develops a methodology for operations optimization for maximizing economic value based on predicted renewable generation and market information. A multi-environment computational platform for performing such operations optimization is also developed. In order to compensate for prediction error, a control strategy is accordingly designed to operate a standby energy storage element (ESE) to avoid energy imbalance within HES. The proposed operations optimizer allows systematic control of energy conversion for maximal economic value. Simulation results of two specific HES configurations are included to illustrate the proposed methodology and computational capability. These results demonstrate the economic viability of HES under proposed operations optimizer, suggesting the diversion of energy for alternative energy output while participating in the ancillary service market. Economic advantages of such operations optimizer and associated flexible operations are illustrated by comparing the economic performance of flexible operations against that of constant operations. Sensitivity analysis with respect to market variability and prediction error, are also performed.

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Research Organization:: Idaho National Laboratory (INL), Idaho Falls, ID (United States)

Sponsoring Organization:: USDOE Office of Nuclear Energy (NE)

Grant/Contract Number:: AC07-05ID14517; AC-07-05ID14517

OSTI ID:: 1357460

Alternate ID(s):: OSTI ID: 1328550

Report Number(s):: INL/JOU-15-36620; PII: S0306261916306535

Journal Information:: Applied Energy, Vol. 177, Issue C; ISSN 0306-2619

Publisher:: ElsevierCopyright Statement

Country of Publication:: United States

Language:: English

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Cited by: 44 works

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