Abstract
This paper presents a method for the scheduling and operation of energy storage for wind power plants in electricity markets. A dynamic programming algorithm is employed to determine the optimal energy exchange with the market for a specified scheduling period, taking into account transmission constraints. During operation, the energy storage is used to smooth variations in wind power production in order to follow the scheduling plan. The method is suitable for any type of energy storage and is also useful for other intermittent energy resources than wind. An application of the method to a case study is also presented, where the impact of energy storage sizing and wind forecasting accuracy on system operation and economics are emphasized. Simulation results show that energy storage makes it possible for owners of wind power plants to take advantage of variations in the spot price, by thus increasing the value of wind power in electricity markets. With present price estimates, energy storage devices such as reversible fuel cells are likely to be a more expensive alternative than grid expansions for the siting of wind farms in weak networks. However, for areas where grid expansions lead to unwanted interference with the local environment, energy storage should be considered as a reasonable way to increase the penetration of wind power.
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