Techno-economic analysis of solar PV and wind power plants with hydrogen energy storage systems as a frequency regulation provider
Renewable energy has emerged as a crucial component in the transition towards decarbonizing the power sector, offering a clean and sustainable alternative to fossil fuels. However, the integration of these variable renewable electricity sources diminishes system inertia and creates frequency regulat...
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| Tipo de recurso: | tesis de maestría |
| Fecha de publicación: | 2023 |
| País: | España |
| Institución: | Universitat Politècnica de Catalunya (UPC) |
| Repositorio: | UPCommons. Portal del coneixement obert de la UPC |
| Idioma: | inglés |
| OAI Identifier: | oai:upcommons.upc.edu:2117/392900 |
| Acceso en línea: | https://hdl.handle.net/2117/392900 |
| Access Level: | acceso abierto |
| Palabra clave: | Hydrogen as fuel -- Production control -- Planning -- Economic aspects Electric power production -- Sweden -- Mathematical models Photovoltaic power systems -- Sweden -- Management -- Economic aspects Wind power plants -- Sweden -- Management -- Economic aspects Hidrogen com a combustible -- Producció -- Control -- Aspectes econòmics Energia elèctrica -- Producció -- Suècia -- Models matemàtics Instal·lacions fotovoltaiques -- Suècia -- Administració -- Aspectes econòmics Parcs eòlics -- Suècia -- Administració -- Aspectes econòmics Àrees temàtiques de la UPC::Energies::Tecnologia energètica::Emmagatzematge i transport de l'energia Àrees temàtiques de la UPC::Economia i organització d'empreses::Direcció d'operacions::Anàlisi de processos de negoci i de fabricació |
| Sumario: | Renewable energy has emerged as a crucial component in the transition towards decarbonizing the power sector, offering a clean and sustainable alternative to fossil fuels. However, the integration of these variable renewable electricity sources diminishes system inertia and creates frequency regulation challenges. To address these operational and technical difficulties, energy storage devices are critical in support- ing grid stability. In particular, hydrogen storage can act as an intermediary for intermittent electricity production and thus contribute to a more balanced energy system in the coming years [2]. Therefore, this thesis presents a comprehensive techno-economic analysis of integrating solar and wind power plants with a hydrogen storage system to provide frequency regulation services. The study focuses on the profitability of participating in the Day-ahead Spot Market and explores the impact of fre- quency regulation provision on project profitability, over the project’s lifetime of 20 years. A case study in Sweden is used to evaluate the results obtained from an optimization model developed using the Gurobi solver. The findings demonstrate the significance of revenue from frequency regulation services in achieving overall profitability. Wind scenarios outperform solar scenarios due to higher renewable energy avail- ability. In the wind scenario, the analysis revealed a payback period of 16 years and a total hydrogen (H2) production of 582 tonnes. Notably, approximately 62% of the total revenue was attributed to participation in the Down-regulation frequency market, with the wind power plant emerging as the primary revenue- generating component. On the other hand, in the solar scenario, the payback period was extended to 19 years, accompanied by a total hydrogen production of 584 tonnes. In this case, the solar power plant accounted for the majority of revenue, and 51% of the total revenue of the project was attained through participation in the Down-regulation market. The future scenarios indicate that market landscapes and technological advancements will enhance economic indicators and make renewable power plants inte- grated with hydrogen energy storage systems projects more attractive. Additionally, a sensitivity analysis reveals the key factors influencing the Levelized Cost of Electricity, Net Present Value, and Payback Period in different scenarios. Finally, these research outcomes provide valuable insights for decision-making, emphasizing the im- portance of considering various factors, such as market prices, system size, system costs, and discount rates, in the techno-economic analysis of renewable energy projects. This study contributes to the existing knowledge in the field and offers guidance for stakeholders involved in renewable energy system planning and implementation |
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