Economic optimization of operations for hybrid energy systems under variable markets
- 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.
- 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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