Minimizing Wind Power Producer's Balancing Costs Using Electrochemical Energy Storage: Preprint
This paper examines how electrochemical energy storage can be used to decrease the balancing costs of a wind power producer in the Nordic market. Because electrochemical energy storage is developing in both technological and financial terms, a sensitivity analysis was carried out for the most important variables in the wind-storage hybrid system. The system was studied from a wind power producer's point of view. The main result is that there are no technical limitations to using storage for reducing the balancing costs. However, in terms of economic feasibility, installing hybrid wind-storage systems such as the one studied in this paper faces challenges in both the short and long terms.
- Publication Date:
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- Conference: To be presented at the Nordic Conference on Electricity Distribution Management and Development, 8-9 September 2014, Stockholm, Sweden
- Research Org:
- National Renewable Energy Laboratory (NREL), Golden, CO.
- Sponsoring Org:
- USDOE Office of Energy Efficiency and Renewable Energy Wind Power Technologies Office
- Country of Publication:
- United States
- 17 WIND ENERGY; 25 ENERGY STORAGE WIND POWER; ENERGY STORAGE; WIND POWER FORECASTING; BALANCING; BATTERIES; BATTERY SYSTEMS; Wind Energy
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