Efficient storage capacity in power systems with thermal and renewable generation

Bjarne Steffen () and Christoph Weber

No 1104, EWL Working Papers from University of Duisburg-Essen, Chair for Management Science and Energy Economics

Abstract: Power systems with high shares of wind and solar power have to balance their intermittent nature. Pumped†hydro storage plants can provide the required flexibility, while thermal backup plants offer an alternative. This paper proposes a model based on peak†load†pricing theory to describe the efficient technology portfolio. Drawing on a load duration curve, we derive the efficient storage capacity and discuss its dependence on cost parameters. It is shown that renewable generation affects the efficient storage capacity by changing the shape of the residual load duration curve, while limited time periods with renewable generation in excess of load do not necessarily affect the level of storage. A case study for Germany applies the model and highlights the impact of CO2 prices on storage efficiency.

Keywords: electricity storage; peak†load†pricing; renewable energy (search for similar items in EconPapers)
JEL-codes: C61 D24 L94 Q41 Q42 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2011-08, Revised 2011-08
New Economics Papers: this item is included in nep-cwa, nep-ene and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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http://www.sciencedirect.com/science/article/pii/S0140988312002812 First version, 2011 (application/pdf)

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Journal Article: Efficient storage capacity in power systems with thermal and renewable generation (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:dui:wpaper:1104

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