Scheduling when Reservoirs are Batteries for Wind- and Solar-power
Journal article, Peer reviewed
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Original versionEnergy Procedia 2016, 87:173-180 10.1016/j.egypro.2015.12.348
In this paper we take the perspective of a competitive hydropower producer located in Southern Norway, and calculate the profitability of investing in a pumped storage facility in price-scenario for Europe in 2050. A methodology to analyze the combined supply of day-ahead energy and real-time balancing is described and applied. A sequential optimization for optimal supply in each market is applied, utilizing the same resource cost for hydropower. When supplying balancing energy in addition to the supply in the day-ahead market, total income increase by only 2.2%. However, the additional income because of the investment increases by 21%.