scholarly journals Balancing Generation from Renewable Energy Sources: Profitability of an Energy Trader

Energies ◽  
2020 ◽  
Vol 13 (1) ◽  
pp. 205 ◽  
Author(s):  
Christopher Kath ◽  
Weronika Nitka ◽  
Tomasz Serafin ◽  
Tomasz Weron ◽  
Przemysław Zaleski ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Wind Farm ◽  
Renewable Energy Sources ◽  
Wind Farms ◽  
Energy Sources ◽  
Individual Risk ◽  
Trading Company ◽  
Risk Appetite ◽  
Simple Regression Model ◽  
Suitable Framework

Motivated by a practical problem faced by an energy trading company in Poland, we investigate the profitability of balancing intermittent generation from renewable energy sources (RES). We consider a company that buys electricity generated by a pool of wind farms and pays their owners the day-ahead system price minus a commission, then sells the actually generated volume in the day-ahead and balancing markets. We evaluate the profitability (measured by the Sharpe ratio) and market risk faced by the energy trader as a function of the commission charged and the adopted trading strategy. We show that publicly available, country-wide RES generation forecasts can be significantly improved using a relatively simple regression model and that trading on this information yields significantly higher profits for the company. Moreover, we address the issue of contract design as a key performance driver. We argue that by offering tolerance range contracts, which transfer some of the risk to wind farm owners, both parties can bilaterally agree on a suitable framework that meets individual risk appetite and profitability expectations.

scholarly journals The assessment of the Bostanliq district (Uzbekistan Republic) based on the wind energy potential

2021 ◽  
Vol 27 (2) ◽  
pp. 165-175
Author(s):  
Maria Yalbacheva
Keyword(s):  
Renewable Energy ◽  
Power Plants ◽  
Wind Farm ◽  
Renewable Energy Sources ◽  
Wind Farms ◽  
Clean Energy ◽  
Transport Infrastructure ◽  
Energy Sources ◽  
Energy Potential ◽  
The Government

The idea of achieving energy security and lowering the dependence on the global hydrocarbon market is at the top of the agenda in many countries. Most of them consider switching from traditional energy sources to renewable ones as one of the ways to reduce fuel import. This concept absolutely conforms to one of the UN Sustainable Development Goals (Goal no. 7, “Affordable and Clean Energy”). In May 2019, the Government of Uzbekistan Republic adopted the law on the Use of Renewable Energy Sources (RES). By 2030, Uzbekistan is going to increase the share of RES in the total structure of electricity generation up to 25 % (currently it is at 10 %), by building solar and wind farms with a total installed capacity of 5,000 MW and 3,000 MW, respectively. The energy-deficient Bostanliq district of the Tashkent region has become one of the places of interest, where transport infrastructure, recreation services, and renewable energy will be developed. The purpose of this study was a multivariate analysis, considering the meteorological, ecological, and socio-economic characteristics of the Bostanliq district, leading to the selection of the optimal location for the wind farm. The assessment map based on the results of this analysis made it possible to identify areas that are most suitable for the location of wind power plants. The assessment method, that was used in this work, is also applicable to other regions of the world.

Cross spectral characteristics of modelled and measured sets of spatially distributed wind power in the Faroe Islands

2020 ◽  
Author(s):  
Turið Poulsen ◽  
Hans-Georg Beyer
Keyword(s):  
Renewable Energy ◽  
Wind Power ◽  
Wind Farm ◽  
Renewable Energy Sources ◽  
Spectral Characteristics ◽  
Electrical Power ◽  
Wind Farms ◽  
Energy Sources ◽  
Faroe Islands ◽  
Nwp Model

<p>The Faroe Islands is a small mountainous island group in the north east Atlantic Ocean, located far from any other mainland. The closes adjacent land being Shetland ~300 km away. One electrical power company exists on the islands, distributing power to the ~50.000 citizens. Approximately half of the electrical power comes from renewable energy sources (wind and hydro) and the other half from oil [1]. The political goal is to have the electrical system running 100% on renewable energy sources by 2030. This will presumable be achieved by implementing a significant amount of wind power [2]. The climate in the Faroe Islands is very windy, making it a good area for harvesting wind energy.</p><p>As wind is a fluctuating power source, analyzing the wind field and its characteristics is of great importance, when planning implementation of a significant amount of wind power into the power grid. Smoothening of the wind power can be achieved different ways, one being with spatial dispersion of wind farms seen in other studies [3,4]. The spectral characteristics and the smoothening effect of spatial dispersed sites based on wind farm data and meteorological wind speed measurements in the Faroe Islands was shown in a poster presentation at EMS2019 [5]. However, implementing more wind farms requires knowledge of new sites. There have been made NWP calculations of the wind in the Faroe Islands for the period July 2016 to June 2017. NWP are beneficial in the way that they give valuable information at unknown sites, which may be used for wind farm planning. However, NWP calculations are based on a given setup of a simplified reality. Hence, validating any NWP model is needed.</p><p>There exists wind measurements at various heights from two meteorological masts at the time period of the mentioned NWP model calculations in the Faroe Islands. The aim of this study is to compare auto- and cross-spectral characteristics of the sets of modelled and measured data. The results will give an insight on the value of NWP derived data for grid integration studies in a region with complex topography.</p><div><br><div> <p>[1] Framleiðsluroknskapur 2018, SEV, (see http://www.sev.fo/Default.aspx?ID=67)</p> </div> <div> <p>[2] Hansen, H., Nielsen, T., Thomsen, B., and Andersen, K., 2018, Energilagring på Færøerne, Teknisk opsamlingsrapport. Dansk Energi. (see http://www.os.fo/media/1187/1-teknisk-opsamlingsrapport-energilagring-paa-faer-erne.pdf)</p> </div> <div> <p>[3] Beyer, H. G., Luther, J., and Steinberger-Willms, R., 1993, Power fluctuations in spatially dispersed wind turbine systems, Solar Energy, Vol. 50, No. 4, pp. 297-305.</p> </div> <div> <p>[4] Pearre, N. S. and Swan, L. G., 2018, Spatial and geographic heterogeneity of wind turbine farms for temporally decoupled power output, Energy, Vol. 145, pp. 417-429.</p> </div> <div> <p>[5] Poster presentation at the European Meteorology Society annual meeting 2019, 9-13 September, Copenhagen, Denmark.</p> </div> </div>

scholarly journals Features of operation of wind power stations as an supplementary source of electricity for non-traction consumers of railway electric mains

2019 ◽  
pp. 36-41
Author(s):  
Kachan Yu ◽  
Kuznetsov V
Keyword(s):  
Renewable Energy ◽  
Wind Speed ◽  
Wind Power ◽  
Wind Turbines ◽  
Power Supply ◽  
Renewable Energy Sources ◽  
Wind Farms ◽  
Energy Sources ◽  
Railway Transport ◽  
Supply Systems

Purpose. Identify the features of operation of wind farms as an auxiliary supplier of electricity for non-traction consumers of railway networks and analyze the main factors that directly affect the use of wind farms due to the random nature of wind flow and additional factors due to the above conditions in different climates. The research methodology is based on modern methods of computational mathematics, statistics and information analysis using modern computer technology. Findings. The need to use renewable energy sources in the power supply systems of non-traction consumers of railway transport is obvious. Given the constant growth of prices and tariffs for electricity in Ukraine, more and more attention is paid to its savings and the search for the cheapest and most affordable alternative sources. The authors consider issues related to the possibility of using additional generation of electricity in the power supply systems of railway transport through the use of wind turbines, including for non-traction consumers. The analysis of wind flow features in some regions of Ukraine was carried out, and the measurement of wind speed in Zaporizhia and Dnipropetrovsk regions was obtained with the help of a compact wind speed sensor manufactured by Micro-Step-MIS LLC (Russia). The obtained values of wind speed were recorded and stored digitally. The received information of the above device was processed. The authors conclude that in the case of using wind turbines as an additional power source in the networks of non-traction consumers of railway power supply systems it is economically advantageous to connect them directly to these networks and fully use all electricity produced by them, reducing its consumption from this power supply system. The originality is that the use of renewable energy sources in the power supply systems of non-traction consumers of railway transport, in particular wind turbines, is proposed. Practical implications. Introduction of wind power plants as an auxiliary supplier of electricity for non-traction consumers of railway power grids in order to minimize electricity costs. Keywords: renewable energy sources, quality of electric energy, wind power plant, power supply networks of railway transport, non-traction consumers of railway electric networks, electricity production, wind speed.

scholarly journals Model of a building heating system with renewable energy sources

2020 ◽  
Vol 207 ◽  
pp. 02006
Author(s):  
Nicolay Komitov ◽  
Nicolay Shopov ◽  
Violeta Rasheva
Keyword(s):  
Renewable Energy ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Wind Farms ◽  
Heating System ◽  
Energy Sources ◽  
Gas Generator ◽  
Additional Energy ◽  
Photovoltaic Panel ◽  
The Impact

The current century is characterized by an increasing use of renewable energy - wind farms, solar parks, bio fuels, etc. Climate change and rising prices of fossil fuels lead to increased investment in renewable energy. This raises the need to examine the impact of various factors on the efficiency of energy production from renewable energy sources. This is related to the development of adequate models and the implementation of appropriate computer systems to manage and control these processes. The present work presents the main aspects of the modelling of a building heating installation using renewable energy sources - a solar photovoltaic panel and a HHO gas generator. The additional energy needed to heat the building is provided by a pellet boiler. An energy balance of the studied building is made taking into account the external and internal temperatures and energy loss. The computer model was developed in order to build a system for process control in the building’s heating system.

Survey of Wind Power and Integration Smart Grid Technologies

2012 ◽  
Vol 614-615 ◽  
pp. 1771-1777
Author(s):  
Tian Wei Xing ◽  
Hong Shen ◽  
Jian Ding ◽  
Lei Dong ◽  
Jia Hui Han ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Smart Grid ◽  
Wind Power ◽  
Wind Farm ◽  
Renewable Energy Sources ◽  
Development Trend ◽  
Energy Sources ◽  
Electricity Networks ◽  
Detailed Survey ◽  
The Future

Because of the fact that the availability of renewable energy sources is determined by the weather and can hardly or not be affected, new functions of electricity networks are required. Smart grid is inevitable in the development of the renewable energy. In this paper a detailed survey of the smart grid techniques about wind power and integration of wind power was provided. An attempt was also made to identify development trend of the future. This survey will also be helpful for the wind farm and grid owner to understand the current smart grid technologies and will give them an idea that technologies will be suitable for the development of the future.

scholarly journals The Potential of Wind Energy and Design Implications on Wind Farms in Saudi Arabia

2021 ◽  
Vol 10 (4) ◽  
pp. 839-856
Author(s):  
Muhammad Tayyab Naqash ◽  
Mohammad Hasan Aburamadan ◽  
Ouahid Harireche ◽  
Abdulrahman AlKassem ◽  
Qazi Umar Farooq
Keyword(s):  
Saudi Arabia ◽  
Renewable Energy ◽  
Wind Energy ◽  
Wind Farm ◽  
Renewable Energy Sources ◽  
Wind Farms ◽  
Maximum Output ◽  
Energy Potential ◽  
Future Economic Development ◽  
Wind Currents

Climate change and natural resource depletion are likely to affect the future economic development of a country. The generation of power from oil and gas is among the major causes of reserves depletion and global warming. However, renewable energy is also deemed a clean and green choice for power generation to promote sustainability in engineering. The coastal lines of the Kingdom of Saudi Arabia (KSA) are widely extended, and wind energy appears to be a viable alternative to traditional sources, which needs to be investigated as it is highly desirable to seek energy from renewable energy sources, for instance, wind. This paper is aimed at addressing the wind energy potential along the Red Sea coast of KSA. Afterward, a suitable wind turbine based upon careful structural analysis has been proposed, which would form a basis, especially during the machine selection and design phases. For this purpose, seven different sites located along the coastal line, namely: Al Wajh, Umluj, Yanbu, Rabigh, Jeddah, Haddad, and Gizan, were initially selected to assess the wind energy availability. After that, a suitable turbine is recommended for yielding maximum output. It has been found from the reconnaissance that Al Wajh has sufficient land availability that receives high perennial wind speed, alongside shallow offshore water depth for monopile installation. Hence, this site is recommended for the development of a wind farm. Furthermore, turbines need to be installed at the height of almost 100 m to produce maximum energy to appropriately utilize the available indigenous wind energy. It is pertinent to mention that the superstructure of the turbines is designed based on the local loading conditions (wind, currents, waves, etc.) of the Al Wajh region. Also, the monopile substructures are proposed in the selected area in accordance with the available bathymetry.

scholarly journals German support systems for onshore wind farms in the context of Polish acts limiting wind energy development

2017 ◽  
Vol 34 (1) ◽  
pp. 109-115 ◽  
Author(s):  
Leszek Dawid
Keyword(s):  
Renewable Energy ◽  
Wind Energy ◽  
Support Systems ◽  
Renewable Energy Sources ◽  
Wind Farms ◽  
Energy System ◽  
Energy Sources ◽  
Onshore Wind ◽  
Low Emission ◽  
Wind Energy Development

Abstract European energy system is undergoing a deep transition to low-emission energy sources, mainly wind farms. This transition is caused mostly by energy politics of European Union (EU) and its goals in the topic of renewable energy. European wind energy is dominated by Germany that produces half of total wind energy in EU. The aim of this article is to present support systems for wind farms existing in Germany in the context of introducing in Poland the Act of 20 May 2016 on Wind Energy Investments limiting onshore wind farms localization and Act of 22 June 2016 introducing changes to the Act on Renewable Energy Sources (RES) and some other acts. It is postulated to make amendments of acts regulating RES while considering German solutions.

Cold-Ironing in Anchorage Area of Rotterdam Port using Renewable Energy Sources

2015 ◽  
Author(s):  
Petros Gemenetzis ◽  
Emmanouil Vranakis ◽  
Konstantinos Xydis ◽  
Nikolaos Sfakianos ◽  
Spyridon Selas ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Electrical Power ◽  
Wind Farms ◽  
Offshore Platform ◽  
Energy Sources ◽  
Atmospheric Emissions ◽  
Innovative Design ◽  
Marine Industry ◽  
Reduction Of Emissions

In an attempt to address the growing need for greener shipping, the potential of cold ironing technology, has been considered as one of the most effective methods to control the atmospheric emissions generated by marine industry. The present study focuses on the reduction of emissions occurred in anchorage areas of one of the busiest ports in Europe. For this purpose, an innovative design was produced by combining the method of cold ironing and the use of renewable energy sources such as wind farms, located close to the anchorage areas of Rotterdam Port. Electrical power produced by the windfarms will be stored in an offshore platform, distributed in a subsea station located outside the anchorage area and then to the vessels with the use of four calm buoys.

Sign in / Sign up

Export Citation Format

Share Document