Economic evaluation in using storage to reduce imbalance costs of renewable sources power plants

Abstract

The spread of Renewable non-dispatchable sources represents a new challenges for the electrical power system. The unpredictability of generation profiles caused the necessity to compensate the fluctuations of power, also using storage system. Storage system can be utilized to make Renewable Energy Sources more dispatchable, but their utilize solely for this purpose can be non-economical convenient. In this paper the storage system is utilized first of all to increase the self-consumption of energy for a prosumer, then the same storage system is utilized to reduce imbalance charges. The analysis of imbalances costs varying the capacity of storage system and the accuracy of the production forecasts is carried out. It is underlined as the benefits of storage system for high accuracy forecasts are clearer then for low accuracy forecasts.