Quantifying energy storage augmented capacity value of wind generation in electricity market

Abstract: Wind generation has been regarded as the most promising source of renewable energy. Many utilities and electricity markets around the world are, however, finding the task of integrating wind generation into the system very challenging due to its uncertainty and intermittency. Hence, confidence shown by majority of utilities and electricity markets in wind generation as a capacity source is extremely low. These challenges have spurred a wide range of research activities in this area, and many perceive energy storage technology has a potential solution to mitigate the adverse impacts of these uncertainties and intermittencies. This paper presents a methodology to model energy storage in conjunction with wind generation to quantify their contribution to system adequacy, and to assess the ability of energy storage to augment capacity value of wind resources in meeting acceptable reliability criteria. A study has been conducted in a test system with large wind penetration operated with energy storage. A range of studies are presented considering various market operating scenarios to illustrate the contribution to augmenting capacity value to the intermittent sources in energy system planning. Furthermore, the contribution of energy storage towards capacity deferral and reliability enhancement has been assessed for different electricity market scenarios.

Keywords: renewable energy, wind power, energy storage, capacity value, electricity market
 
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