Evaluation of photovoltaic storage systems on energy markets under uncertainty using stochastic dynamic programming

Dogan Keles and Joris Dehler-Holland

Energy Economics, 2022, vol. 106, issue C

Abstract: The rising share of intermittent renewable energy production in energy systems increasingly poses a threat to system stability and the price level in energy markets. However, the effects of renewable energy production onto electricity markets also give rise to new business opportunities. The expected increase in price differences increases the market potential for storage applications and combinations with renewable energy production. The value of storage depends critically on the operation of the storage system.

Keywords: PV storage; Energy markets; Markov decision process; ARMA process; Stochastic dynamic programming (search for similar items in EconPapers)
JEL-codes: C02 C61 C63 D47 D81 Q40 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:106:y:2022:i:c:s0140988321006356

DOI: 10.1016/j.eneco.2021.105800

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