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There is an increased interest for combining different generation sources into hybrid power plants for better utilization of grid infrastructure and allowing increased penetration of renewables around the world. Most of these hybrid power plants include some kind of storage such as battery storage. This enhances the possibility of energy arbitrage with the use of storage in the hybrid power plant. This paper performs a preliminary analysis of potential of storage for energy arbitrage in Australian electricity market which can be more characterized as real-time market. Feasibility analysis of storage is performed through calculation of net present value using a model predictive control based battery optimization methodology. Through different case studies, preliminary assessment suggests that battery storage can be a feasible option for energy arbitrage in Queensland electricity market.
|Title of host publication||The 9th Renewable Power Generation Conference (RPG Dublin Online 2021)|
|Number of pages||6|
|Publisher||Institution of Engineering and Technology|
|Publication status||Published - 2021|
|Event||9th International Conference on Renewable Power Generation - Online event, Ireland|
Duration: 1 Mar 2021 → 2 Mar 2021
|Conference||9th International Conference on Renewable Power Generation|
|Period||01/03/2021 → 02/03/2021|
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HYBRIDize: Optimized Design and Operation of Hybrid Power Plant
Sørensen, P. E., Das, K., Cavar, D., Hansen, A. D., Long, Q., Göçmen, T., Koivisto, M. J. & Murcia Leon, J. P.
01/05/2019 → 30/06/2022