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Balancing and Storage of Intermittent Renewables: an Economic Study

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Balancing and Storage of Intermittent Renewables: an Economic Study UNIVERSITEIT GENT FACULTEIT ECONOMIE EN BEDRIJFSKUNDE ACADEMIEJAAR 2011 – 2012 Balancing and Storage of Intermittent Renewables: an Economic Study Masterproef voorgedragen tot het bekomen van de graad van Master of Science in de Toegepaste Economische Wetenschappen: Handelsingenieur Jonathan Schotte onder leiding van Prof. dr. Johan Albrecht DANKWOORD Dit werk kon slechts tot stand komen dankzij de steun en hulp van vele mensen. Bijzondere dank gaat uit naar mijn promotor, Prof. Dr. Johan Albrecht, voor het aanreiken van het onderwerp en voor de tijd die hij heeft vrijgemaakt. Verder wil ik ook Mr. Ruben Laleman bedankten voor het aanreiken van informatie, zijn adviezen en zijn vlotte bereikbaarheid. Tenslotte wil ik ook mijn vrienden, kennissen en ouders bedanken voor hun morele steun gedurende het voorbije jaar. 2 3 List of Tables ............................................................................................................................................ 7 List of Figures ........................................................................................................................................... 9 Introduction ........................................................................................................................................... 11 Wind ...................................................................................................................................................... 13 Wind Turbines ................................................................................................................................... 13 Properties of wind ............................................................................................................................. 14 Variability....................................................................................................................................... 15 Terminology ................................................................................................................................... 15 Solar ....................................................................................................................................................... 17 Photovoltaic ...................................................................................................................................... 17 Thermal Solar Power ......................................................................................................................... 18 Solar Parabolic Through ................................................................................................................ 19 Central Receiver ............................................................................................................................ 20 Solar Parabolic Dish ....................................................................................................................... 21 Properties of Solar energy ................................................................................................................. 22 The Electric grid ..................................................................................................................................... 23 Generation......................................................................................................................................... 23 Transmission and distribution ........................................................................................................... 24 Transmission .................................................................................................................................. 24 High voltage DC ......................................................................................................................... 24 Superconductivity ...................................................................................................................... 24 Distribution .................................................................................................................................... 25 Supporting Operations ...................................................................................................................... 25 Predictions ..................................................................................................................................... 25 Ancillary Services ........................................................................................................................... 27 Flexibility ........................................................................................................................................... 28 Balancing ............................................................................................................................................... 30 Spatial Diversification ........................................................................................................................ 30 Balancing Management ..................................................................................................................... 33 Activation of Regulating Reserves by the TSO .................................................................... 34 Maintaining portfolio balance by BRPs ................................................................................ 35 Imbalance Settlement ........................................................................................................... 35 Balancing Wind Energy in Belgium...................................................................................... 35 Available Mechanisms to Balance Positions after Gate Closure .......................................... 36 4 Demand Response ............................................................................................................................. 37 The Smart Grid .............................................................................................................................. 37 Vehicle-to-Grid .............................................................................................................................. 38 Storage .................................................................................................................................................. 40 Individual plant storage versus Power system storage ..................................................................... 40 Quantifying the value of storage ....................................................................................................... 41 Applications of energy storage .......................................................................................................... 42 Power Quality ................................................................................................................................ 43 Bridging Power.............................................................................................................................. 44 Energy arbitration ......................................................................................................................... 45 Other application of energy storage ............................................................................................. 45 Transmission and Distribution................................................................................................... 45 Black-Start ................................................................................................................................. 45 Power Quality and Stability ....................................................................................................... 46 End- Use Applications ................................................................................................................ 46 Supporting the Integration of Intermittent Renewable Energy Sources .................................. 46 Frequency and synchronous spinning reserve support ........................................................ 46 Transmission curtailment reduction ..................................................................................... 46 Time shifting .......................................................................................................................... 46 Evaluating Storage ............................................................................................................................. 48 Types of storage ................................................................................................................................ 49 Thermal Storage ............................................................................................................................ 50 Molten salt storage: an example ............................................................................................... 51 Storage technologies for Power Quality Applications ................................................................... 51 Flywheels ................................................................................................................................... 51 Capacitors .................................................................................................................................. 52 Superconducting Magnetic Energy Storage .............................................................................. 52 Storage Techniques for Bridging Power ........................................................................................ 52 Battery technology
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