Presentations

Abstract

Hybrid power plants are becoming increasingly important in energy investment decisions. Wind-Solar-Storage configuration emerged as a promising investment option; in particular, wind-solar-battery provides complementary renewable energy resources coupling and allows flexibility to participate in energy markets, particularly the intra-day market. In this work, the initial feasibility problem consisting of the sizing of the mix is investigated. An optimization problem that consists of maximizing the project revenue subject to power flow, battery charging dynamics and budget constraints is investigated. Both day-ahead and intra-day dynamics are included in the optimization problem, allowing the decision-maker to voluntarily participate in each market to maximize the revenue. Under the assumption that the investor is non-strategic and that the bidding is done at the marginal cost of renewables, we show that the problem can be approximated as a linear program with market dynamics as stochastic variables. The sizing of wind-only, wind-solar and wind-solar-battery projects using siting data of Castilla y Leon-Burgos and energy prices from the Iberian peninsula NEMO are compared in terms of project revenue and show the importance of the mix and the feasibility of the approach.