Wind Energy Based Power Storage System

2014 ◽  
pp. 1-72
Author(s):  
Nasib Imtiaz Bhuiyan
Keyword(s):  
Wind Energy ◽  
Storage System ◽  
Power Storage

scholarly journals Sustainability economic study of the islands of the Azores archipelago using photovoltaic panels, wind energy and storage system

2020 ◽  
Vol 7 (1) ◽  
Author(s):  
Inês Melo ◽  
João Paulo Neto Torres ◽  
Carlos Alberto Ferreira Fernandes ◽  
Ricardo A. Marques Lameirinhas
Keyword(s):  
Wind Energy ◽  
Storage System ◽  
Economic Study ◽  
Photovoltaic Panels ◽  
Azores Archipelago ◽  
And Storage

Model risk regarding monthly wind energy production for the valuation of a wind farm investment

2019 ◽  
Vol 13 (4) ◽  
pp. 862-884 ◽  
Author(s):  
Sarah Krömer
Keyword(s):  
Wind Energy ◽  
Cash Flow ◽  
Wind Farm ◽  
Storage System ◽  
Energy Output ◽  
Model Risk ◽  
Content Type ◽  
Risk Return ◽  
Farm Investment ◽  
The Impact

Purpose The purpose of this paper is to assess model risk with regard to wind energy output in monthly cash flow models for the purpose of valuation and risk assessment of wind farm investments, where only a few approaches exist in the literature. Design/methodology/approach This paper focuses on the risk-return characteristics of this investment from the perspective of private and institutional investors and takes into account several risks, in particular the resource risk related to the uncertainty of the monthly wind energy produced. To this end, this paper presents different approaches for modeling monthly wind power output and assesses the impact of three selected models with different properties on the investment’s risk-return characteristics by means of a stochastic discounted cash flow model. In addition, the model considers the possibility of a joint operation of the wind farm with a pumped hydro storage system to reduce risk and improve profits. Findings The results show that the (non-)consideration of seasonality of the monthly wind energy produced considerably influences the risk-return characteristics, but that principal developments dependent on input parameters and model variables remain similar. Originality/value This paper contributes to the literature by presenting different approaches for modeling the monthly wind energy produced based on direct models of the wind energy output, which are rare in the existing literature. Further, their impact on risk-return characteristics of a wind farm investment is analyzed, and thus, related model risk is assessed.

Storage Options and Sizing for Utility Scale Integration of Wind Energy Plants

Solar Energy ◽  
2005 ◽  
Author(s):  
Allan E. Ingram
Keyword(s):  
Energy Storage ◽  
Wind Energy ◽  
Storage System ◽  
Electric Energy ◽  
Time Frame ◽  
Market Prices ◽  
Electric Energy Storage ◽  
Design Engineers ◽  
Scale Integration ◽  
Utility Scale

Electric energy storage has been discussed as an option for increasing the marketability of wind energy facilities by reducing output variation. Utility scale wind plants face economic exposure to tariff charges for output variation as well as depending on volatile market prices for success. Wind speed variability and associated changes in wind plant output raise specific challenges to design engineers sizing electric energy storage systems. Evaluation of prospective Wind/Storage applications depends on the characteristics of individual wind plant output and the choice of storage technology. Energy storage options range from traditional lead acid batteries and pumped hydro storage to recently commercialized electrochemical flow battery systems. Selection and sizing of energy storage for wind plants vary with the time frame for each application. Different time frames correspond with the utility definitions of regulation, load shaping and load factoring. Results from a storage system model are presented that differentiate appropriate storage system sizes for these applications.

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