Improving wind power market value with various aspects of diversification

ABSTRACT: The wind generation share in many European bidding zones is now large enough to affect the market value of wind power, and wind energy is getting less-than-average market price in day-ahead markets. As alternatives to investing in dedicated energy storage, there are two main ways to mitigate the decreasing market value trend. The first is employing different diversification measures (geographical spread, alternative wind turbine technologies, integration with solar). The second is implementing demand flexibility measures. Examples of these measures from some European and USA studies are given in this article, which stems from the international collaboration under IEA Wind TCP Tasks 25 and 53.

Keywords

Variable renewable energy sources Power system economics Power system planning Wind energy Wind integration Energy storage

URI

http://hdl.handle.net/10400.9/4165

Citation

Vrana, T. K. et.al - Improving wind power market value with various aspects of diversification. In: Proceedings of 19th International Conference on the European Energy Market (EEM), Lappeenranta, Finland, 6 Jun- 8 Jun, 2023, pp. 1-6