at Google ScholarTitle data
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.
Vol. 162
(2024)
.
- 110265.
ISSN 1879-3517
DOI: https://doi.org/10.1016/j.ijepes.2024.110265
Abstract in another language
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.
Further data
| Item Type: | Article in a journal |
|---|---|
| Refereed: | Yes |
| Keywords: | Bilevel Model; Electricity Market; Energy Storage; Price Maker; Wind Power |
| Institutions of the University: | Faculties > Faculty of Engineering Science > Chair Intelligent Energy Management > Chair Intelligent Energy Management - Univ.-Prof. Dr. Vedran Peric |
| Result of work at the UBT: | Yes |
| DDC Subjects: | 600 Technology, medicine, applied sciences > 620 Engineering |
| Date Deposited: | 25 Mar 2026 08:11 |
| Last Modified: | 25 Mar 2026 08:11 |
| URI: | https://eref.uni-bayreuth.de/id/eprint/96180 |