IDEAS home Printed from https://ideas.repec.org/a/eee/appene/v86y2009i11p2308-2316.html
   My bibliography  Save this article

Feasibility of CHP-plants with thermal stores in the German spot market

Author

Listed:
  • Streckiene, Giedre
  • Martinaitis, Vytautas
  • Andersen, Anders N.
  • Katz, Jonas

Abstract

The European Energy Exchange (EEX) day ahead spot market for electricity in Germany shows significant variations in prices between peak and off-peak hours. Being able to shift electricity production from off-peak hours to peak hours improves the profit from CHP-plant operation significantly. Installing a big thermal store at a CHP-plant makes it possible to shift production of electricity and heat to hours where electricity prices are highest especially on days with low heat demand. Consequently, these conditions will have to influence the design of new CHP-plants. In this paper, the optimal size of a CHP-plant with thermal store under German spot market conditions is analyzed. As an example the possibility to install small size CHP-plant instead of only boilers at a Stadtwerke delivering 30,000Â MWÂ h-heat for district heating per year is examined using the software energyPRO. It is shown that, given the economic and technical assumptions made, a CHP-plant of 4Â MW-el with a thermal store participating in the spot market will be the most feasible plant to build. A sensitivity analysis shows to which extent the optimal solution will vary by changing the key economic assumptions.

Suggested Citation

  • Streckiene, Giedre & Martinaitis, Vytautas & Andersen, Anders N. & Katz, Jonas, 2009. "Feasibility of CHP-plants with thermal stores in the German spot market," Applied Energy, Elsevier, vol. 86(11), pages 2308-2316, November.
    • Handle: RePEc:eee:appene:v:86:y:2009:i:11:p:2308-2316
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0306-2619(09)00114-7
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Marchand, M. & Proost, S. & Wilberz, E., 1983. "A model of district heating using a CHP plant," Energy Economics, Elsevier, vol. 5(4), pages 247-257, October.
    2. Diongue, Abdou Kâ & Guégan, Dominique & Vignal, Bertrand, 2009. "Forecasting electricity spot market prices with a k-factor GIGARCH process," Applied Energy, Elsevier, vol. 86(4), pages 505-510, April.
    3. Khan, K. H. & Rasul, M. G. & Khan, M. M. K., 2004. "Energy conservation in buildings: cogeneration and cogeneration coupled with thermal energy storage," Applied Energy, Elsevier, vol. 77(1), pages 15-34, January.
    4. Bogdan, Željko & Kopjar, Damir, 2006. "Improvement of the cogeneration plant economy by using heat accumulator," Energy, Elsevier, vol. 31(13), pages 2285-2292.
    5. Al-Mansour, Fouad & Kožuh, Mitja, 2007. "Risk analysis for CHP decision making within the conditions of an open electricity market," Energy, Elsevier, vol. 32(10), pages 1905-1916.
    6. Crespo Cuaresma, Jesús & Hlouskova, Jaroslava & Kossmeier, Stephan & Obersteiner, Michael, 2004. "Forecasting electricity spot-prices using linear univariate time-series models," Applied Energy, Elsevier, vol. 77(1), pages 87-106, January.
    7. Chung, Jae Dong & Cho, Sung Hwan & Tae, Choon Seob & Yoo, Hoseon, 2008. "The effect of diffuser configuration on thermal stratification in a rectangular storage tank," Renewable Energy, Elsevier, vol. 33(10), pages 2236-2245.
    8. Lund, H. & Siupsinskas, G. & Martinaitis, V., 2005. "Implementation strategy for small CHP-plants in a competitive market: the case of Lithuania," Applied Energy, Elsevier, vol. 82(3), pages 214-227, November.
    9. Thollander, Patrik & Mardan, Nawzad & Karlsson, Magnus, 2009. "Optimization as investment decision support in a Swedish medium-sized iron foundry - A move beyond traditional energy auditing," Applied Energy, Elsevier, vol. 86(4), pages 433-440, April.
    10. Kandari, Abdullah M., 1990. "Thermal stratification in hot storage-tanks," Applied Energy, Elsevier, vol. 35(4), pages 299-315.
    11. Rolfsman, Björn, 2004. "Combined heat-and-power plants and district heating in a deregulated electricity market," Applied Energy, Elsevier, vol. 78(1), pages 37-52, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Arteconi, A. & Hewitt, N.J. & Polonara, F., 2012. "State of the art of thermal storage for demand-side management," Applied Energy, Elsevier, vol. 93(C), pages 371-389.
    2. Capuder, Tomislav & Mancarella, Pierluigi, 2014. "Techno-economic and environmental modelling and optimization of flexible distributed multi-generation options," Energy, Elsevier, vol. 71(C), pages 516-533.
    3. Erdogdu, Erkan, 2010. "A paper on the unsettled question of Turkish electricity market: Balancing and settlement system (Part I)," Applied Energy, Elsevier, vol. 87(1), pages 251-258, January.
    4. Zhang, Yin & Wang, Xin & Zhang, Yinping & Zhuo, Siwen, 2016. "A simplified model to study the location impact of latent thermal energy storage in building cooling heating and power system," Energy, Elsevier, vol. 114(C), pages 885-894.
    5. Lund, H. & Siupsinskas, G. & Martinaitis, V., 2005. "Implementation strategy for small CHP-plants in a competitive market: the case of Lithuania," Applied Energy, Elsevier, vol. 82(3), pages 214-227, November.
    6. Jasiński, Tomasz, 2020. "Use of new variables based on air temperature for forecasting day-ahead spot electricity prices using deep neural networks: A new approach," Energy, Elsevier, vol. 213(C).
    7. Keles, Dogan & Scelle, Jonathan & Paraschiv, Florentina & Fichtner, Wolf, 2016. "Extended forecast methods for day-ahead electricity spot prices applying artificial neural networks," Applied Energy, Elsevier, vol. 162(C), pages 218-230.
    8. Javed, Fahad & Arshad, Naveed & Wallin, Fredrik & Vassileva, Iana & Dahlquist, Erik, 2012. "Forecasting for demand response in smart grids: An analysis on use of anthropologic and structural data and short term multiple loads forecasting," Applied Energy, Elsevier, vol. 96(C), pages 150-160.
    9. Lončar, D. & Duić, N. & Bogdan, Ž., 2009. "An analysis of the legal and market framework for the cogeneration sector in Croatia," Energy, Elsevier, vol. 34(2), pages 134-143.
    10. González-Pino, I. & Pérez-Iribarren, E. & Campos-Celador, A. & Terés-Zubiaga, J., 2020. "Analysis of the integration of micro-cogeneration units in space heating and domestic hot water plants," Energy, Elsevier, vol. 200(C).
    11. Cao, Lihua & Wang, Zhanzhou & Pan, Tongyang & Dong, Enfu & Hu, Pengfei & Liu, Miao & Ma, Tingshan, 2021. "Analysis on wind power accommodation ability and coal consumption of heat–power decoupling technologies for CHP units," Energy, Elsevier, vol. 231(C).
    12. Lago, Jesus & De Ridder, Fjo & De Schutter, Bart, 2018. "Forecasting spot electricity prices: Deep learning approaches and empirical comparison of traditional algorithms," Applied Energy, Elsevier, vol. 221(C), pages 386-405.
    13. Panapakidis, Ioannis P. & Dagoumas, Athanasios S., 2016. "Day-ahead electricity price forecasting via the application of artificial neural network based models," Applied Energy, Elsevier, vol. 172(C), pages 132-151.
    14. Lin, Whei-Min & Gow, Hong-Jey & Tsai, Ming-Tang, 2010. "An enhanced radial basis function network for short-term electricity price forecasting," Applied Energy, Elsevier, vol. 87(10), pages 3226-3234, October.
    15. de Ridder, Fjo & van Roy, Jeroen & de Schutter, Bert & Mazairac, Wiet, 2021. "An exploration of shared heat storage systems in the greenhouse horticulture industry," Energy, Elsevier, vol. 235(C).
    16. Badami, M. & Camillieri, F. & Portoraro, A. & Vigliani, E., 2014. "Energetic and economic assessment of cogeneration plants: A comparative design and experimental condition study," Energy, Elsevier, vol. 71(C), pages 255-262.
    17. Compernolle, Tine & Witters, Nele & Van Passel, Steven & Thewys, Theo, 2011. "Analyzing a self-managed CHP system for greenhouse cultivation as a profitable way to reduce CO2-emissions," Energy, Elsevier, vol. 36(4), pages 1940-1947.
    18. Weron, Rafał, 2014. "Electricity price forecasting: A review of the state-of-the-art with a look into the future," International Journal of Forecasting, Elsevier, vol. 30(4), pages 1030-1081.
    19. Chesi, Andrea & Ferrara, Giovanni & Ferrari, Lorenzo & Magnani, Sandro & Tarani, Fabio, 2013. "Influence of the heat storage size on the plant performance in a Smart User case study," Applied Energy, Elsevier, vol. 112(C), pages 1454-1465.
    20. Barbieri, Enrico Saverio & Melino, Francesco & Morini, Mirko, 2012. "Influence of the thermal energy storage on the profitability of micro-CHP systems for residential building applications," Applied Energy, Elsevier, vol. 97(C), pages 714-722.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:appene:v:86:y:2009:i:11:p:2308-2316. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.