To main content

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.
Read publication

Category

Academic chapter/article/Conference paper

Client

  • Research Council of Norway (RCN) / 257626
  • Research Council of Norway (RCN) / 328750
  • EC/H2020 / 864276
  • Research Council of Norway (RCN) / 321954

Language

English

Author(s)

  • Til Kristian Vrana
  • Harald Svendsen
  • Magnus Korpås
  • António Couto
  • Ana Estanqueiro
  • Damian Flynn
  • Hannele Holttinen
  • Philipp Härtel
  • Matti Koivisto
  • Eric Lantz
  • Bethany Frew

Affiliation

  • SINTEF Energy Research / Energisystemer
  • Norwegian University of Science and Technology
  • Portugal
  • Ireland
  • Finland
  • Fraunhofer Institute for Energy Economics and Energy System Technology
  • Technical University of Denmark
  • National Renewable Energy Laboratory

Year

2023

Publisher

IEEE (Institute of Electrical and Electronics Engineers)

Book

2023 19th International Conference on the European Energy Market - EEM

Issue

2023

ISBN

979-8-3503-1258-4

View this publication at Cristin