Optimal Storage Investment and Management under Uncertainty - It is costly to avoid outages!
نویسندگان
چکیده
Subject of this analysis is to show how storage is operated optimally under renewable and load uncertainty in the electricity system context. We estimate a homogeneous Markov Chain representation of the residual load in Germany in 2014 on an hourly basis and design a very simple dynamic stochastic electricity system model with non-intermittent generation technologies and storage. We compare these results to perfect foresight findings and identify a significant over estimation of the storage potential under perfect foresight. Keywords—storage, electricity system, uncertainty Categories—electricity and nuclear, energy security, energy modelling, energy economics
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