Electricity and reserve market bidding strategy including sizing evaluation and a novel renewable complementarity-based centralized control for storage lifetime enhancement

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dc.contributor.authorGonzález-Garrido, A.
dc.contributor.authorGaztañaga, H.
dc.contributor.authorSaez-de-Ibarra, A.
dc.contributor.authorMilo, A.
dc.contributor.authorEguia, P.
dc.contributor.institutionPOWER SYSTEMS
dc.date.accessioned2024-07-24T12:08:36Z
dc.date.available2024-07-24T12:08:36Z
dc.date.issued2020-03-15
dc.descriptionPublisher Copyright: © 2020 Elsevier Ltd
dc.description.abstractOn the path to increase the renewable penetration level in power systems, energy storage systems are increasingly considered a key flexible technology to support renewable operation. Despite the reduction of ESS capital costs and their progressive inclusion in electricity markets, the major challenge is to develop new cost-effective business cases for renewable sources and electrical storage devices, which operate in aggregation and participate reliably in electricity markets as well as provide additional ancillary services. The main goal of the paper is to propose a centralized energy management strategy focused on portfolio scheme maximization including favorable market opportunities, such as continuous intraday market and frequency restoration reserve. Besides conventional cost function maximization, the consideration of technical aspects in the optimization allows high reliability of reserve requirements and reduction of energy imbalances. The main research contribution is the novel centralized supervisory control in real-time operation compared to a decentralized approach. This centralized control re-allocates reserve energy to achieve full market compliance and takes advantage of renewable complementarity to apply an innovative state of charge technique which minimizes battery stress and enhances their lifetimes. Therefore, in addition to the optimal storage sizing analysis, storage capacity fade and expected lifetime are accurately estimated according to the operation by means of experimental cycling and calendar aging models to calculate investment and replacement costs. Finally, a techno-economic evaluation of the cost-effectiveness of storage integration is provided.en
dc.description.sponsorshipThis work was partially supported by the Basque Government under Project Road2DC (ELKARTEK Research Program KK-2018/00083 ).
dc.description.statusPeer reviewed
dc.identifier.citationGonzález-Garrido , A , Gaztañaga , H , Saez-de-Ibarra , A , Milo , A & Eguia , P 2020 , ' Electricity and reserve market bidding strategy including sizing evaluation and a novel renewable complementarity-based centralized control for storage lifetime enhancement ' , Applied Energy , vol. 262 , 114591 . https://doi.org/10.1016/j.apenergy.2020.114591
dc.identifier.doi10.1016/j.apenergy.2020.114591
dc.identifier.issn0306-2619
dc.identifier.urihttps://hdl.handle.net/11556/3885
dc.identifier.urlhttp://www.scopus.com/inward/record.url?scp=85079370643&partnerID=8YFLogxK
dc.language.isoeng
dc.relation.ispartofApplied Energy
dc.relation.projectIDEusko Jaurlaritza, KK-2018/00083
dc.rightsinfo:eu-repo/semantics/restrictedAccess
dc.subject.keywordsCentralized control
dc.subject.keywordsElectricity markets
dc.subject.keywordsEnergy degradation
dc.subject.keywordsRenewable energy
dc.subject.keywordsReserve market
dc.subject.keywordsStorage sizing
dc.subject.keywordsBuilding and Construction
dc.subject.keywordsMechanical Engineering
dc.subject.keywordsGeneral Energy
dc.subject.keywordsManagement, Monitoring, Policy and Law
dc.subject.keywordsSDG 7 - Affordable and Clean Energy
dc.titleElectricity and reserve market bidding strategy including sizing evaluation and a novel renewable complementarity-based centralized control for storage lifetime enhancementen
dc.typejournal article
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