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Optimal battery operation for revenue maximization of wind-storage hybrid power plant

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In order to participate in energy market, variable renewable energy sources need to reduce the uncertainty of forecast errors. Inclusion of storage can be a viable option not only to minimize the penalties due to forecast uncertainties but also to maximize the revenue generation. This paper presents a decision framework for respecting the market constraints and maximise the revenues of a wind and storage power plant. Wind power and price forecast are used in convex otimisation algorithm for making day ahead decisions on battery operation. This day ahead optimisation results feed to an algorithm for operating in the balancing market. Several scenarios and case studies have been simulated to assess the value of storage for revenue maximization of a wind power plant. The results show that proposed algorithms can increase the revenue by more than 10% compared to the operation of wind power plant without
battery.

Author(s):

Kaushik Das    
Technical University of Denmark
Denmark

Anatole Grapperon    
Technical University of Denmark
Denmark

Poul Sørensen    
Technical University of Denmark
Denmark

Anca Hansen    
Technical University of Denmark
Denmark

 

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