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Title: Preliminary analysis of market potential for a hydropneumatic ground-level integrated diverse energy storage system

Abstract

With the increasing share of renewable energy in the power grid, energy storage is considered a viable and effective solution to mitigate intermittency and improve power system stability. To quantify and estimate market potential for a recently developed Ground-Level Integrated Diverse Energy Storage (GLIDES) technology, the first operation model is developed for this hydropneumatic system and the bilinear pressure-volume terms are then linearized using the binary McCormick Relaxation method to improve solving efficiency. Based on up-to-date 5-min price data in four different real-time markets, several sets of experiments have been designed with three objective scenarios: maximize arbitrage, maximize arbitrage + reserve, maximize arbitrage + reserve + regulation. Here, the experimental results show that the monetary value of GLIDES could be boosted by participation in ancillary markets and that regulation service might contribute more than half of the total revenue, even as high as 90% in PJM and ISONE markets. In addition, a case study for 1-day operation is used to illustrate the volume control of the GLIDES system.

Authors:
ORCiD logo [1];  [2];  [3];  [1];  [1];  [1];  [1]
  1. Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)
  2. National Renewable Energy Lab. (NREL), Golden, CO (United States)
  3. Univ. of Tennessee, Knoxville, TN (United States)
Publication Date:
Research Org.:
Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)
Sponsoring Org.:
USDOE
OSTI Identifier:
1509560
Grant/Contract Number:  
AC05-00OR22725
Resource Type:
Accepted Manuscript
Journal Name:
Applied Energy
Additional Journal Information:
Journal Volume: 242; Journal Issue: C; Journal ID: ISSN 0306-2619
Publisher:
Elsevier
Country of Publication:
United States
Language:
English
Subject:
25 ENERGY STORAGE; GLIDES; Micro pumped-hydro storage; Energy arbitrage; Ancillary services; Market potentials; Binary McCormick

Citation Formats

Chen, Yang, Odukomaiya, Adewale, Kassaee, Saiid, O’Connor, Patrick, Momen, Ayyoub M., Liu, Xiaobing, and Smith, Brennan T. Preliminary analysis of market potential for a hydropneumatic ground-level integrated diverse energy storage system. United States: N. p., 2019. Web. doi:10.1016/j.apenergy.2019.03.076.
Chen, Yang, Odukomaiya, Adewale, Kassaee, Saiid, O’Connor, Patrick, Momen, Ayyoub M., Liu, Xiaobing, & Smith, Brennan T. Preliminary analysis of market potential for a hydropneumatic ground-level integrated diverse energy storage system. United States. doi:10.1016/j.apenergy.2019.03.076.
Chen, Yang, Odukomaiya, Adewale, Kassaee, Saiid, O’Connor, Patrick, Momen, Ayyoub M., Liu, Xiaobing, and Smith, Brennan T. Sat . "Preliminary analysis of market potential for a hydropneumatic ground-level integrated diverse energy storage system". United States. doi:10.1016/j.apenergy.2019.03.076.
@article{osti_1509560,
title = {Preliminary analysis of market potential for a hydropneumatic ground-level integrated diverse energy storage system},
author = {Chen, Yang and Odukomaiya, Adewale and Kassaee, Saiid and O’Connor, Patrick and Momen, Ayyoub M. and Liu, Xiaobing and Smith, Brennan T.},
abstractNote = {With the increasing share of renewable energy in the power grid, energy storage is considered a viable and effective solution to mitigate intermittency and improve power system stability. To quantify and estimate market potential for a recently developed Ground-Level Integrated Diverse Energy Storage (GLIDES) technology, the first operation model is developed for this hydropneumatic system and the bilinear pressure-volume terms are then linearized using the binary McCormick Relaxation method to improve solving efficiency. Based on up-to-date 5-min price data in four different real-time markets, several sets of experiments have been designed with three objective scenarios: maximize arbitrage, maximize arbitrage + reserve, maximize arbitrage + reserve + regulation. Here, the experimental results show that the monetary value of GLIDES could be boosted by participation in ancillary markets and that regulation service might contribute more than half of the total revenue, even as high as 90% in PJM and ISONE markets. In addition, a case study for 1-day operation is used to illustrate the volume control of the GLIDES system.},
doi = {10.1016/j.apenergy.2019.03.076},
journal = {Applied Energy},
number = C,
volume = 242,
place = {United States},
year = {2019},
month = {3}
}

Journal Article:
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This content will become publicly available on March 23, 2020
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