Sizing a Battery Energy Storage System for Hybrid Renewable Power Plants Based on Optimal Market Participation Under Different Market Scenarios
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Date
2022-07-08Author
Martínez Rico, Jon
Zulueta Guerrero, Ekaitz
Ruiz de Argandoña, Ismael
Armendia, Mikel
Fernández Gámiz, Unai
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IEEE Transactions on Industry Applications 58(5) :5624-5634 (2022)
Abstract
This article presents a method for selecting
the best battery sizing based on an optimal market
participation strategy in a hybrid renewable power
plant. The proposed formulation consid-ers different
scenarios to ensure the reserve provision compliance and
includes two terms. The first one maximizes the day-
ahead and automatic frequency restoration reserve
(aFRR) market revenues. The second minimizes the
battery degradation, accounting for both cycling and
calendar ageing effects. The Iberian Electricity Market is
selected as the study case, and two different market
scenarios are compared: the current market scenario
and the upcoming one, in which the upward and
downward aFRR band offers are independent. The
operation of a set of batteries is simulated until their end
of life, and results reveal that energy/power ratios higher
than 3 h for the current market scenario, and than 4 h
for the upcoming one, are less cost effective. Regarding
the best battery energy storage systems sizing, the
selection varies considering incomes or profitability
criteria. Moreover, keeping the current prices, in the
upcoming market scenario hybrid renewable power
plants are encouraged to participate more in the
downward than in the upward aFRR market