Optimal facility combination set of integrated energy system based on consensus point between independent system operator and independent power producer

Yeong Geon Son, Byeong Chan Oh, Moses Amoasi Acquah and Sung Yul Kim

Energy, 2023, vol. 266, issue C

Abstract: In recent years, the frequency of power demand imbalance and negative price phenomenon has risen due to the rapid expansion of renewable energy sources (RES). Because of this, a means to reduce the curtailment of RES by utilizing surplus energy is essential. This paper focuses on reducing the curtailment of wind turbines (WT) with high output intermittency and minimizing the investment cost of IES via an integrated energy system (IES). The IES operation seeks to improve the acceptability and efficiency of the RES as it supports the integration of various energies mix, such as electricity, heat, hydrogen. This paper proposes an optimal facility combination set (FCS) of IES that satisfies the requirements of ISO and IPP using Multi-Objective Optimization Programming (MOP). The case study is based on a wind farm in South Korea, set in Aewol-eup, Jeju-Island. The case study results provide the best configuration of the IES energy mix with the best economic value and efficiency while satisfying ISO and IPP perspectives.

Keywords: Integrated energy system; Independent system operator; Independent power producer; Facility combination set; Consensus point; Multi-objective optimization (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:266:y:2023:i:c:s0360544222033084

DOI: 10.1016/j.energy.2022.126422

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