The value of concentrating solar power in ancillary services markets

Abiodun, Kehinde; Hood, Karoline; Cox, John L.; Newman, Alexandra M.; Zolan, Alex J.

doi:10.1016/j.apenergy.2022.120518

The value of concentrating solar power in ancillary services markets

Journal Article · Wed Mar 15 04:00:00 EDT 2023 · Applied Energy

DOI:https://doi.org/10.1016/j.apenergy.2022.120518· OSTI ID:1961157

Abiodun, Kehinde ^[1]; Hood, Karoline ^[1]; Cox, John L. ^[1]; ^[1]; ^[2]

Colorado School of Mines, Golden, CO (United States)
National Renewable Energy Laboratory (NREL), Golden, CO (United States)

Ancillary services, such as spinning reserves, can provide grid reliability and contribute to profitability of an energy resource. We exercise an existing dispatch optimization model to estimate the profitability of a concentrating solar power plant by incorporating the sale of spinning reserves in the ancillary service market using the National Renewable Energy Laboratory's System Advisor Model to simulate operations within a 72-h rolling horizon framework. Assuming a price-taker approach with day-ahead energy and spinning reserve prices from both the California Independent System Operator and the Electricity Reliability Council of Texas, we find that selling spinning reserves in addition to electric energy increases plant profitability by up to 7% with perfect knowledge of day-ahead pricing and solar resource availability. Here, this finding suggests that spinning reserve markets provide significant value streams to concentrating solar power plants that can leverage thermal energy storage to offer reliable production in the short-to-medium term.

View Accepted Manuscript (DOE)

Research Organization:: National Renewable Energy Laboratory (NREL), Golden, CO (United States)

Sponsoring Organization:: USDOE Office of Energy Efficiency and Renewable Energy (EERE), Renewable Power Office. Solar Energy Technologies Office

Grant/Contract Number:: AC36-08GO28308

OSTI ID:: 1961157

Report Number(s):: NREL/JA-5700-84798; MainId:85571; UUID:1129c93c-ac14-423e-a600-fe6f3a0e0247; MainAdminID:68982

Journal Information:: Applied Energy, Journal Name: Applied Energy Vol. 334; ISSN 0306-2619

Publisher:: ElsevierCopyright Statement

Country of Publication:: United States

Language:: English

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Figures / Tables (18)

Table 1: Part 1(p. 7)

Table 1: Part 2(p. 8)

Table 5: Part 1(p. 23)

Table 5: Part 2(p. 24)

Table 5: Part 3(p. 25)

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Related Subjects

14 SOLAR ENERGY
29 ENERGY PLANNING, POLICY, AND ECONOMY
ancillary services
concentrating solar power
mixed-integer programming
price-taker model
renewable energy
spinning reserves

The value of concentrating solar power in ancillary services markets

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References (43)

Figures / Tables (18)

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Related Subjects