DocumentCode :
1154089
Title :
Compressed Air Energy Storage in an Electricity System With Significant Wind Power Generation
Author :
Swider, Derk J.
Author_Institution :
Univ. of Stuttgart
Volume :
22
Issue :
1
fYear :
2007
fDate :
3/1/2007 12:00:00 AM
Firstpage :
95
Lastpage :
102
Abstract :
In this paper, a stochastic electricity market model is applied to estimate the effects of significant wind power generation on system operation and on economic value of investments in compressed air energy storage (CAES). The model´s principle is cost minimization by determining the system costs mainly as a function of available generation and transmission capacities, primary energy prices, plant characteristics, and electricity demand. To obtain appropriate estimates, notably reduced efficiencies at part load, start-up costs, and reserve power requirements are taken into account. The latter are endogenously modeled by applying a probabilistic method. The intermittency of wind is covered by a stochastic recombining tree and the system is considered to adapt on increasing wind integration over time by endogenous modeling of investments in selected thermal power plants and CAES. Results for a German case study indicate that CAES can be economic in the case of large-scale wind power deployment
Keywords :
compressed air energy storage; cost reduction; power generation economics; pricing; stochastic processes; wind power plants; CAES; compressed air energy storage; cost minimization; electricity demands; electricity system; energy prices; large scale wind power deployment; probabilistic method; reserve power requirements; stochastic electricity market model; stochastic recombining tree; thermal power plants; transmission capacity; wind power generation; Cost function; Electricity supply industry; Energy storage; Investments; Power generation; Power generation economics; Power system economics; Power system modeling; Stochastic systems; Wind power generation; Compressed air energy storage; power system modeling; stochastic systems; wind energy; wind integration costs;
fLanguage :
English
Journal_Title :
Energy Conversion, IEEE Transactions on
Publisher :
ieee
ISSN :
0885-8969
Type :
jour
DOI :
10.1109/TEC.2006.889547
Filename :
4106018
Link To Document :
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