Show me the money! Profitability of energy storage systems in low-carbon power systems

Sonja Wogrin; Diego A. Tejada-Arango; Stefanos Delikaraoglou; Audun Botterud

doi:10.1109/PowerTech46648.2021.9494776

Show me the money! Profitability of energy storage systems in low-carbon power systems

Sonja Wogrin, Diego A. Tejada-Arango, Stefanos Delikaraoglou, Audun Botterud

Publikation: Beitrag in Buch/Bericht/Konferenzband › Beitrag in einem Konferenzband › Begutachtung

Abstract

Energy storage systems are bound to play a critical role in the transition towards a decarbonized power sector with high shares of variable renewables. However, an open question is whether all storage capacity that is needed will be profitable under the current market paradigm. In this paper, we assess how the profitability of energy storage systems is affected by the increasing penetration of variable renewables. Moreover, we discuss the potentially detrimental effects of strategic storage capacity withholding on system costs, renewable penetration and the profitability of all technologies.

Originalsprache	englisch
Titel	2021 IEEE Madrid PowerTech
Herausgeber (Verlag)	Institute of Electrical and Electronics Engineers
ISBN (elektronisch)	9781665435970
DOIs	https://doi.org/10.1109/PowerTech46648.2021.9494776
Publikationsstatus	Veröffentlicht - 28 Juni 2021
Extern publiziert	Ja
Veranstaltung	2021 IEEE Madrid PowerTech, PowerTech 2021 - Madrid, Spanien Dauer: 28 Juni 2021 → 2 Juli 2021

Konferenz

Konferenz	2021 IEEE Madrid PowerTech, PowerTech 2021
Land/Gebiet	Spanien
Ort	Madrid
Zeitraum	28/06/21 → 2/07/21

ASJC Scopus subject areas

Elektrotechnik und Elektronik
Artificial intelligence
Energieanlagenbau und Kraftwerkstechnik
Erneuerbare Energien, Nachhaltigkeit und Umwelt

UN SDGs

Dieser Output leistet einen Beitrag zu folgendem(n) Ziel(en) für nachhaltige Entwicklung

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10.1109/PowerTech46648.2021.9494776

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abstract = "Energy storage systems are bound to play a critical role in the transition towards a decarbonized power sector with high shares of variable renewables. However, an open question is whether all storage capacity that is needed will be profitable under the current market paradigm. In this paper, we assess how the profitability of energy storage systems is affected by the increasing penetration of variable renewables. Moreover, we discuss the potentially detrimental effects of strategic storage capacity withholding on system costs, renewable penetration and the profitability of all technologies.",

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year = "2021",

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doi = "10.1109/PowerTech46648.2021.9494776",

language = "English",

booktitle = "2021 IEEE Madrid PowerTech",

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AU - Wogrin, Sonja

AU - Tejada-Arango, Diego A.

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AU - Botterud, Audun

PY - 2021/6/28

Y1 - 2021/6/28

N2 - Energy storage systems are bound to play a critical role in the transition towards a decarbonized power sector with high shares of variable renewables. However, an open question is whether all storage capacity that is needed will be profitable under the current market paradigm. In this paper, we assess how the profitability of energy storage systems is affected by the increasing penetration of variable renewables. Moreover, we discuss the potentially detrimental effects of strategic storage capacity withholding on system costs, renewable penetration and the profitability of all technologies.

AB - Energy storage systems are bound to play a critical role in the transition towards a decarbonized power sector with high shares of variable renewables. However, an open question is whether all storage capacity that is needed will be profitable under the current market paradigm. In this paper, we assess how the profitability of energy storage systems is affected by the increasing penetration of variable renewables. Moreover, we discuss the potentially detrimental effects of strategic storage capacity withholding on system costs, renewable penetration and the profitability of all technologies.

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KW - expansion planning

KW - profitability

KW - renewable penetration

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U2 - 10.1109/PowerTech46648.2021.9494776

DO - 10.1109/PowerTech46648.2021.9494776

M3 - Conference paper

AN - SCOPUS:85112375208

BT - 2021 IEEE Madrid PowerTech

PB - Institute of Electrical and Electronics Engineers

T2 - 2021 IEEE Madrid PowerTech, PowerTech 2021

Y2 - 28 June 2021 through 2 July 2021

ER -

Show me the money! Profitability of energy storage systems in low-carbon power systems

Abstract

Konferenz

ASJC Scopus subject areas

UN SDGs

Zugriff auf Dokument

Andere Dateien und Links

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