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Analysis of Energy Curtailment and Capacity Overinstallation to Maximize Wind Turbine Profit Considering Electricity Price-Wind Correlation

Peiyuan Chen (Institutionen för elektroteknik, Elkraftteknik) ; Torbjörn Thiringer (Institutionen för elektroteknik, Elkraftteknik)
IEEE Transactions on Sustainable Energy (1949-3029). Vol. 8 (2017), 4, p. 1406-1414.
[Artikel, refereegranskad vetenskaplig]

This paper proposes a strategy of using wind energy curtailment and capacity overinstallation to increase the profit of wind turbine (WT) installations in a local grid, accounting for the correlation between the local wind power production and system electricity price. It is demonstrated that the market value of a local wind power production in Denmark would be overestimated by 11% if the average electricity price is used without considering the price-wind correlation. A first-order relation is developed to quantify the correlation between the electricity price and local-wind power production to evaluate the market value and the expected revenue of the wind power. Furthermore, in the analyzed cases of a local WT installation, compared to the case with no curtailment, the profits are increased by up to 46% through 29% of energy curtailment and 113% of capacity overinstallation, when the slope of the price-wind relation is 100 (sic)/MWh. It is also verified that the approximated analytical solutions give accurate results of the optimal curtailment level.

Nyckelord: Curtailment, electricity price, wind energy, wind turbine, probability distribution, profit

Denna post skapades 2017-10-16.
CPL Pubid: 252533


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Institutioner (Chalmers)

Institutionen för elektroteknik, Elkraftteknik



Chalmers infrastruktur