Multi-objective capacity configuration optimization of the combined wind - Storage system considering ELCC and LCOE

Qianqian Song, Bo Wang, Zhaohua Wang and Lei Wen

Energy, 2024, vol. 301, issue C

Abstract: The optimal capacity configuration of combined wind-storage systems (CWSSs) serves as a foundation and premise for building new electricity system. This paper proposes a novel capacity configuration model of CWSS. The model simultaneously considers economy, stability and low carbon by respectively minimizing Levelized cost of electricity (LCOE) and maximizing effective load carrying capacity (ELCC). The multi-objective optimization model is solved by Non-dominated Sorting Genetic Algorithm II (NSGA-II). And Multi-Attributive Border Approximation Area Comparison (MABAC) method is used to score the alternative solutions on the Pareto front and make decisions under different scenarios. The results of the case study show that: (1) The evaluation of the ELCC for CWSS can quantify its ability to replace the installed capacity of thermal power, thus greatly reducing the uncertainty of wind power output. (2) Under low-carbon scenario, economic scenario and standard scenario, the results of optimal capacity configuration for the CWSS show that LCOE and ELCC are negatively correlated. When the weights of ELCC and LCOE are equal, the three goals of economy, low carbon and safety and stability are achieved. (3) The results of a single sensitivity analysis on LCOE show that the sensitivity coefficient of electricity generation is the highest, exerting the greatest impact on the capacity configuration decision of the CWSS. A 20 % increase in power generation can reduce LCOE by 0.1203RMB/kWh. This paper provides energy planning recommendations for decision-makers in CWSSs, contributing to the development of a reliable new electricity system.

Keywords: Combined wind-storage system (CWSS); LCOE; ELCC; Multi-objective optimization; Capacity configuration (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:301:y:2024:i:c:s0360544224013318

DOI: 10.1016/j.energy.2024.131558

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