An integrated electricity - hydrogen market design for renewable-rich energy system considering mobile hydrogen storage

Junpeng Zhu, Dexin Meng, Xiaofeng Dong, Zhixin Fu and Yue Yuan

Renewable Energy, 2023, vol. 202, issue C, 961-972

Abstract: With the increasing penetration of renewable energy (RE) generation in power systems, RE companies are gradually accepted as regular players in electricity markets. Compared with the conventional way, RE generation promotes economic and environmental protection, but also brings uncertainty to power systems. Hydrogen storage stations (HSSs) can alleviate RE's fluctuating generation. Moreover, the integration of hydrogen and electricity has superiorities to mitigate the spatial imbalance of the RE distribution and achieve higher energy efficiency. To this end, the framework of a local integrated electricity - hydrogen market is designed in this paper. Trading mechanisms among RE generation companies (GenCos), HSSs, power distribution company and other hydrogen-related participants are first introduced, based on which the mathematical models are presented. A two-stage market clearing model is then proposed to determine the optimal trading amount and allot profits based on Shapley value. A simple case shows that by participating in proposed market, the power deviation between offering and available capacity of GenCos decreases by 69.5% and 86.0%, respectively, while the profit of HSSs and GenCos is $ 1.60 × 103 within a week. Therefore, cooperating with the hydrogen market can be a potential way for power systems to integrate high proportion of RE.

Keywords: Electricity market; Renewable energy generation; Hydrogen storage; Integrated energy market; Shapley value (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:renene:v:202:y:2023:i:c:p:961-972

DOI: 10.1016/j.renene.2022.12.015

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