Operational optimization of wind energy based hydrogen storage system considering electricity market's influence

Abstract

In response to electricity markets dominated by wind energy production, and thereby varying electricity prices, this research aims at examining intensives for investments in integrated renewable energy power systems. To do so, strategies have been presented and discussed using optimization methodologies for a power system consisting of wind turbines, electrolysers, and fuel cells. Consequently, intensives for investments in such power systems are introduced by optimizing the return on economic investments of wind farms in markets with great daily variations in electricity prices. The findings presented in this research can help inform researchers, policy makers, and the energy industry in the transition towards implementation of renewable energy systems.