Capacity credit of storage in long-term planning models and capacity markets

Mertens, Tim; Bruninx, Kenneth; Duerinck, Jan; Delarue, Erik

doi:10.1016/j.epsr.2021.107070

Cited by 17 publications

(9 citation statements)

References 19 publications

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“…Adequate capacity remuneration for low-carbon power systems is a very interesting but still ongoing topic of research Bothwell and Hobbs (2017); Mertens et al (2021). The firm capacity constraint implemented here is one particular example or such a policy measure.…”

Section: Future Power System (100% Vre): Gep Results and Impacts Of C...mentioning

confidence: 99%

“…Defining capacity credits for renewables Bothwell and Hobbs (2017) or storage technologies Mertens et al (2021) is a challenging and ongoing topic of research. While exploring all possible policy measures for remunerating installed capacity is outside the scope of this paper, we have included on specific example of such a policy scheme.…”

Section: Expansion Planning Model and Case Study Datamentioning

confidence: 99%

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The impact of convexity on expansion planning in low-carbon electricity markets

Wogrin

Tejada-Arango

Delikaraoglou

et al. 2022

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Expansion planning models are tools frequently employed to analyze the transition to a carbon-neutral power system. Such models provide estimates for an optimal technology mix and optimal operating decisions, but they are also often used to obtain prices and subsequently calculate profits. This paper analyzes the impact of modeling assumptions on convexity for power system outcomes and, in particular, on investment cost recovery. Through a case study, we find that although there is a long-term equilibrium for producers under convex models, introducing realistic constraints, such as non-convexities/lumpiness of investments, inelastic demand or unit commitment constraints, leads to profitability challenges. We furthermore demonstrate that considering only short-term marginal costs in market-clearing may potentially create a significant missing-money problem caused by a missing-market problem and dual degeneracy in a 100 percent renewable system.

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Section: Future Power System (100% Vre): Gep Results and Impacts Of C...mentioning

confidence: 99%

Section: Expansion Planning Model and Case Study Datamentioning

confidence: 99%

The impact of convexity on expansion planning in low-carbon electricity markets

Wogrin

Tejada-Arango

Delikaraoglou

et al. 2022

TOP

View full text Add to dashboard Cite

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“…However, robustness to storage operation is not the only consideration in choosing a CC calculation method. In a previous work, we hinted at the problem of a CC definition which does not reflect the end use correctly [35]. In this case there is a discrepancy between peak load reduction potential and scarcity value based definitions for reaching a capacity target which minimises total costs.…”

Section: Capacity Remuneration Mechanismsmentioning

confidence: 99%

“…There exist numerous methods to define CCs. These include Effective Firm Capacity (EFC) based definitions [6]; marginal contribution to EENS reduction [34]; peak load reduction or scarcity value [35]; and availability based definitions [36]. This paper investigates how storage operation affects two of these, the incremental or marginal EFC and availability based capacity credit (AvCC ).…”

Section: Capacity Credit Calculationmentioning

confidence: 99%

The effect of short term storage operation on resource adequacy

Gonzato

Brunninx

Delarue

2023

Sustainable Energy, Grids and Networks

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“…Fang et al (2021) introduced a novel capacity market model integrating flexibility requirements to address ramping needs arising from load, wind, and solar power fluctuations. Mertens et al (2021) quantified the capacity credit of energy storage in capacity markets. Cañas-Carretón and Carrión (2020) considered the reserve provision by wind power plants in the capacity market.…”

Section: Introductionmentioning

confidence: 99%

Reliability-constrained capacity market design with high proportions of renewable energies

Zheng,

Nan

2024

Front. Energy Res.

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Renewable energy generation (REG) has continued to grow strongly and resulted in the lower profitability of conventional generation. Meanwhile, the indeterminacy of REG will also lead to electricity balancing challenges and more volatile and less-predictable physical flows in the power grid. In this case, a capacity market is essential to motivate new investments and, therefore, ensure supply adequacy. Considering the low-carbon transition goal and the requirements of the reliability of the power system, this paper develops a reliability-constrained capacity market framework in which the reliability criterion rather than the capacity supply–demand equilibrium is taken into account. The ramping constraints, devices’ random failures, and REG uncertainties are comprehensively considered in the capacity requirement determination and allocation. First, a comprehensive capacity market mechanism coordinated with multi-objective regulations is proposed to compensate the capacity providers and encourage the renewable energy transition. Then, a novel capacity market model is proposed to clear the market with reliability constraints. Moreover, to reduce the computational burden caused by the explicit consideration of reliability constraints, several techniques are applied including the root-event-based state screening technique and the adaptive Kriging metamodel. A modified IEEE-RTS-79 case is studied to illustrate the benefits of the proposed reliability-constrained capacity market model.

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Capacity credit of storage in long-term planning models and capacity markets

Cited by 17 publications

References 19 publications

The impact of convexity on expansion planning in low-carbon electricity markets

The impact of convexity on expansion planning in low-carbon electricity markets

The effect of short term storage operation on resource adequacy

Reliability-constrained capacity market design with high proportions of renewable energies

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