Optimal Dispatch of a Coal-Fired Power Plant with Integrated Thermal Energy Storage
Eren Çam ()
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Eren Çam: Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)
No 2020-5, EWI Working Papers from Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)
As the share of intermittent renewable electricity generation increases, the remaining ﬂeet of conventional power plants will have to operate with higher ﬂexibility. One of the methods to increase power plant ﬂexibility is to integrate a thermal energy storage (TES) into the water-steam cycle of the plant. TES can provide ﬂexibility and achieve proﬁts by engaging in energy arbitrage on the spot markets and by providing additional power on the control power markets. This paper considers a reference coal-ﬁred power plant with an integrated TES system for the year 2019 in Germany. Optimal dispatch for proﬁt maximisation with TES is simulated on the hourly day-ahead and quarter-hourly continuous intraday markets as well as on the markets for primary (PRL) and secondary (SRL) control power. Analysing the eﬀects of TES round-trip eﬃciency and storage capacity on dispatch and the proﬁts, I ﬁnd that smaller TES systems with up to one hour of storage capacity can achieve substantial proﬁts on the PRL market while also realising proﬁts from energy arbitrage on the continuous intraday market. Higher TES round-trip eﬃciencies can help TES achieve signiﬁcant proﬁts also on the day-ahead market. The analysis shows that a storage capacity of 2–3 hours is enough to realise most of the energy arbitrage potential, while larger storage capacities can greatly increase TES proﬁts on the SRL market. Small TES systems are found to increase the full load hours of the plant marginally. However, the increase becomes signiﬁcant with larger storage capacities and can lead to higher CO 2 emissions for the individual plant.
Keywords: Coal-ﬁred power plant; ﬂexibility; thermal energy storage; energy arbitrage (search for similar items in EconPapers)
JEL-codes: Q40 Q49 (search for similar items in EconPapers)
Pages: 28 pages
New Economics Papers: this item is included in nep-ene and nep-env
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ewikln:2020_005
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