IDEAS home Printed from https://ideas.repec.org/a/eee/enepol/v170y2022ics0301421522004748.html
   My bibliography  Save this article

Economic analysis of energy storages integrated into combined-cycle power plants

Author

Listed:
  • Biber, Albert
  • Wieland, Christoph
  • Spliethoff, Hartmut

Abstract

As energy supplies shift towards renewable energy, the requirements in terms of power plant operation are increasing. The volatility of renewables has to be balanced by the conventional power plants in order to provide a secure supply. Therefore, the conventional power plants need to act flexible in the market. To improve the flexibility of operation, the integration of energy storage devices proves to be helpful in terms of increasing the ramp-rates and reducing the minimum-load. A valuation tool has been developed to evaluate the improvement of flexibility through various types of storage from a techno-economical perspective, based on Germany’s day-ahead and intra-day market data between 2017 and 2020. The results show that pumped hydro storage systems and power-to-gas systems can raise the profitability of the plant, while other storage types like CAES or LAES require additional market opportunities to be utilized in order to be competitive. Battery storage systems can help to reduce the ramp time of the plant and allow it to operate on the control power market. However they are not suitable for the day-ahead and intra-day market.

Suggested Citation

  • Biber, Albert & Wieland, Christoph & Spliethoff, Hartmut, 2022. "Economic analysis of energy storages integrated into combined-cycle power plants," Energy Policy, Elsevier, vol. 170(C).
    • Handle: RePEc:eee:enepol:v:170:y:2022:i:c:s0301421522004748
    DOI: 10.1016/j.enpol.2022.113255
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0301421522004748
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.enpol.2022.113255?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    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. Borri, Emiliano & Tafone, Alessio & Romagnoli, Alessandro & Comodi, Gabriele, 2021. "A review on liquid air energy storage: History, state of the art and recent developments," Renewable and Sustainable Energy Reviews, Elsevier, vol. 137(C).
    2. Solomon, A.A. & Faiman, D. & Meron, G., 2012. "The role of conventional power plants in a grid fed mainly by PV and storage, and the largest shadow capacity requirement," Energy Policy, Elsevier, vol. 48(C), pages 479-486.
    3. Luo, Xing & Wang, Jihong & Dooner, Mark & Clarke, Jonathan, 2015. "Overview of current development in electrical energy storage technologies and the application potential in power system operation," Applied Energy, Elsevier, vol. 137(C), pages 511-536.
    4. Blyth, William & Bradley, Richard & Bunn, Derek & Clarke, Charlie & Wilson, Tom & Yang, Ming, 2007. "Investment risks under uncertain climate change policy," Energy Policy, Elsevier, vol. 35(11), pages 5766-5773, November.
    5. Barbara Glensk & Reinhard Madlener, 2018. "Flexibility Options for Lignite-Fired Power Plants: A Real Options Approach," Operations Research Proceedings, in: Andreas Fink & Armin Fügenschuh & Martin Josef Geiger (ed.), Operations Research Proceedings 2016, pages 157-163, Springer.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mahfoud, Rabea Jamil & Alkayem, Nizar Faisal & Zhang, Yuquan & Zheng, Yuan & Sun, Yonghui & Alhelou, Hassan Haes, 2023. "Optimal operation of pumped hydro storage-based energy systems: A compendium of current challenges and future perspectives," Renewable and Sustainable Energy Reviews, Elsevier, vol. 178(C).

    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. Fan, Xiaoyu & Xu, Hao & Li, Yihong & Li, Junxian & Wang, Zhikang & Gao, Zhaozhao & Ji, Wei & Chen, Liubiao & Wang, Junjie, 2024. "A novel liquid air energy storage system with efficient thermal storage: Comprehensive evaluation of optimal configuration," Applied Energy, Elsevier, vol. 371(C).
    2. Solomon, A.A. & Kammen, Daniel M. & Callaway, D., 2016. "Investigating the impact of wind–solar complementarities on energy storage requirement and the corresponding supply reliability criteria," Applied Energy, Elsevier, vol. 168(C), pages 130-145.
    3. Fan, Xiaoyu & Guo, Luna & Ji, Wei & Chen, Liubiao & Wang, Junjie, 2023. "Liquid air energy storage system based on fluidized bed heat transfer," Renewable Energy, Elsevier, vol. 215(C).
    4. Tafone, Alessio & Romagnoli, Alessandro, 2023. "A novel liquid air energy storage system integrated with a cascaded latent heat cold thermal energy storage," Energy, Elsevier, vol. 281(C).
    5. Fan, Xiaoyu & Ji, Wei & Li, Junxian & Gao, Zhaozhao & Chen, Liubiao & Wang, Junjie, 2024. "Advancing liquid air energy storage with moving packed bed: Development and analysis from components to system level," Applied Energy, Elsevier, vol. 355(C).
    6. Dewevre, Florent & Lacroix, Clément & Loubar, Khaled & Poncet, Sébastien, 2024. "Carbon dioxide energy storage systems: Current researches and perspectives," Renewable Energy, Elsevier, vol. 224(C).
    7. Miguel J. Prieto & Juan Á. Martínez & Rogelio Peón & Lourdes Á. Barcia & Fernando Nuño, 2017. "On the Convenience of Using Simulation Models to Optimize the Control Strategy of Molten-Salt Heat Storage Systems in Solar Thermal Power Plants," Energies, MDPI, vol. 10(7), pages 1-17, July.
    8. Qi, Meng & Park, Jinwoo & Lee, Inkyu & Moon, Il, 2022. "Liquid air as an emerging energy vector towards carbon neutrality: A multi-scale systems perspective," Renewable and Sustainable Energy Reviews, Elsevier, vol. 159(C).
    9. Majumder, Suman & De, Krishnarti & Kumar, Praveen & Sengupta, Bodhisattva & Biswas, Pabitra Kumar, 2021. "Techno-commercial analysis of sustainable E-bus-based public transit systems: An Indian case study," Renewable and Sustainable Energy Reviews, Elsevier, vol. 144(C).
    10. Ziad Ragab & Ehsan Pashajavid & Sumedha Rajakaruna, 2024. "Optimal Sizing and Economic Analysis of Community Battery Systems Considering Sensitivity and Uncertainty Factors," Energies, MDPI, vol. 17(18), pages 1-20, September.
    11. Mo, Jian-Lei & Schleich, Joachim & Zhu, Lei & Fan, Ying, 2015. "Delaying the introduction of emissions trading systems—Implications for power plant investment and operation from a multi-stage decision model," Energy Economics, Elsevier, vol. 52(PB), pages 255-264.
    12. Guelpa, Elisa & Bischi, Aldo & Verda, Vittorio & Chertkov, Michael & Lund, Henrik, 2019. "Towards future infrastructures for sustainable multi-energy systems: A review," Energy, Elsevier, vol. 184(C), pages 2-21.
    13. Santos, Lúcia & Soares, Isabel & Mendes, Carla & Ferreira, Paula, 2014. "Real Options versus Traditional Methods to assess Renewable Energy Projects," Renewable Energy, Elsevier, vol. 68(C), pages 588-594.
    14. Tafone, Alessio & Borri, Emiliano & Cabeza, Luisa F. & Romagnoli, Alessandro, 2021. "Innovative cryogenic Phase Change Material (PCM) based cold thermal energy storage for Liquid Air Energy Storage (LAES) – Numerical dynamic modelling and experimental study of a packed bed unit," Applied Energy, Elsevier, vol. 301(C).
    15. Dib, Ghady & Haberschill, Philippe & Rullière, Romuald & Revellin, Rémi, 2021. "Modelling small-scale trigenerative advanced adiabatic compressed air energy storage for building application," Energy, Elsevier, vol. 237(C).
    16. Guo, Cong & Xu, Yujie & Zhang, Xinjing & Guo, Huan & Zhou, Xuezhi & Liu, Chang & Qin, Wei & Li, Wen & Dou, Binlin & Chen, Haisheng, 2017. "Performance analysis of compressed air energy storage systems considering dynamic characteristics of compressed air storage," Energy, Elsevier, vol. 135(C), pages 876-888.
    17. Alexandru Ciocan & Cosmin Ungureanu & Alin Chitu & Elena Carcadea & George Darie, 2020. "Electrical Longboard for Everyday Urban Commuting," Sustainability, MDPI, vol. 12(19), pages 1-14, September.
    18. Ameen, Muhammad Tahir & Ma, Zhiwei & Smallbone, Andrew & Norman, Rose & Roskilly, Anthony Paul, 2023. "Demonstration system of pumped heat energy storage (PHES) and its round-trip efficiency," Applied Energy, Elsevier, vol. 333(C).
    19. Bizon, Nicu, 2019. "Efficient fuel economy strategies for the Fuel Cell Hybrid Power Systems under variable renewable/load power profile," Applied Energy, Elsevier, vol. 251(C), pages 1-1.
    20. Jonathan Fahlbeck & Håkan Nilsson & Saeed Salehi, 2021. "Flow Characteristics of Preliminary Shutdown and Startup Sequences for a Model Counter-Rotating Pump-Turbine," Energies, MDPI, vol. 14(12), pages 1-17, June.

    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:enepol:v:170:y:2022:i:c:s0301421522004748. 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/locate/enpol .

    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.