Planning of Reserve Storage to Compensate for Forecast Errors

Julian Koch, Astrid Bensmann (), Christoph Eckert, Michael Rath and Richard Hanke-Rauschenbach
Additional contact information
Julian Koch: Institute of Electric Power Systems, Leibniz Universität Hannover, 30167 Hanover, Germany
Astrid Bensmann: Institute of Electric Power Systems, Leibniz Universität Hannover, 30167 Hanover, Germany
Christoph Eckert: Institute of Electric Power Systems, Leibniz Universität Hannover, 30167 Hanover, Germany
Michael Rath: Department of Civil and Environmental Engineering, Hochschule Bochum—Bochum University of Applied Sciences, 44801 Bochum, Germany
Richard Hanke-Rauschenbach: Institute of Electric Power Systems, Leibniz Universität Hannover, 30167 Hanover, Germany

Energies, 2024, vol. 17, issue 3, 1-16

Abstract: Forecasts and their corresponding optimized operation plans for energy plants never match perfectly, especially if they have a horizon of several days. In this paper, we suggest a concept to cope with uncertain load forecasts by reserving a share of the energy storage system for short-term balancing. Depending on the amount of uncertainty in the load forecasts, we schedule the energy system with a specific reduced storage capacity at the day-ahead market. For the day of delivery, we examine the optimal thresholds when the remaining capacity should be used to balance differences between forecast and reality at the intraday market. With the help of a case study for a simple sector-coupled energy system with a demand for cooling, it is shown that the energy costs could be reduced by up to 10% using the optimal reserve share. The optimal reserve share depends on the forecast quality and the time series of loads and prices. Generally, the trends and qualitative results can be transferred to other systems. However, of course, an individual evaluation before the realization is recommended.

Keywords: multienergy system; energy storage system; day-ahead and intraday energy market; energy management; uncertain load forecast (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/1996-1073/17/3/720/pdf (application/pdf)
https://www.mdpi.com/1996-1073/17/3/720/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:17:y:2024:i:3:p:720-:d:1332302

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().