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Assessment of wind-related storage investment options in a market-based environment

Titelangaben

Guo, Peiyao ; Dehghan, Shahab ; Terzija, Vladimir ; Hamacher, Thomas ; Perić, Vedran S.:
Assessment of wind-related storage investment options in a market-based environment.
In: International Journal of Electrical Power & Energy Systems. Bd. 162 (2024) . - 110265.
ISSN 1879-3517
DOI: https://doi.org/10.1016/j.ijepes.2024.110265

Abstract

With the increasing share of wind power in the energy sector, many countries start to cut back supporting policies for wind power and shift towards market-oriented schemes, challenging the profitability of wind farms. Energy storage offers a flexible solution to enhance their profitability. This work explores different wind-related storage investment modes, including 1) direct ownership, 2) cooperative, and 3) competitive modes in a market-based environment. For the direct ownership mode, a bilevel single-leader-single–follower Stackelberg game model is proposed, where wind farms invest in and operate storage facilities strategically to maximize their profits in the upper level, while the lower-level problem represents the system operator’ s market-clearing process. A cooperative game framework is presented for the cooperative mode, that wind farms and storage investors agree on a profit allocation rule, i.e., Shapley value or Nucleolus to collaborate in investing and bidding as a coalition. The competitive mode is interpreted as a multi-leader-single-follower Stackelberg game, describing an independent investor investing in and operating storage facilities in competition with wind farms. Case studies conducted on a 6-bus and the IEEE 30-bus test systems demonstrate that storage facilities directly invested in by wind farms are the best option for maximizing their profits, resulting in up to an 8.7% increase. The cooperative option provides a suboptimal increase of up to 3.1%, diversifying the costs and risks associated with storage investments. In contrast, the competitive mode can diminish wind farms’ profitability, with up to a 30.6% decrease in profits.

Weitere Angaben

Publikationsform: Artikel in einer Zeitschrift
Begutachteter Beitrag: Ja
Keywords: Bilevel Model; Electricity Market; Energy Storage; Price Maker; Wind Power
Institutionen der Universität: Fakultäten > Fakultät für Ingenieurwissenschaften > Lehrstuhl Intelligentes Energiemanagement > Lehrstuhl Intelligentes Energiemanagement - Univ.-Prof. Dr. Vedran Peric
Titel an der UBT entstanden: Ja
Themengebiete aus DDC: 600 Technik, Medizin, angewandte Wissenschaften > 620 Ingenieurwissenschaften
Eingestellt am: 25 Mär 2026 08:11
Letzte Änderung: 25 Mär 2026 08:11
URI: https://eref.uni-bayreuth.de/id/eprint/96180