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

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.
Authors:
 [1] ;  [1]
  1. Idaho National Lab. (INL), Idaho Falls, ID (United States)
Publication Date:
Report Number(s):
INL/JOU-15-36620
Journal ID: ISSN 0306-2619; PII: S0306261916306535
Grant/Contract Number:
AC07-05ID14517
Type:
Accepted Manuscript
Journal Name:
Applied Energy
Additional Journal Information:
Journal Volume: 177; Journal Issue: C; Journal ID: ISSN 0306-2619
Publisher:
Elsevier
Research Org:
Idaho National Laboratory, Idaho Falls, ID (United States)
Sponsoring Org:
USDOE Office of Nuclear Energy (NE)
Country of Publication:
United States
Language:
English
Subject:
29 ENERGY PLANNING, POLICY, AND ECONOMY Economic analysis; Hybrid energy systems; Operations optimization; Power market; Renewable
OSTI Identifier:
1357460
Alternate Identifier(s):
OSTI ID: 1357460