EURO 2024 Copenhagen
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2129. Transformation of heterogeneous energy and planning storage capacity at regional strategic level: A financial derivative perspective

Invited abstract in session MC-22: Advancements in energy system optimization and analysis tools, stream Energy Management.

Monday, 12:30-14:00
Room: 81 (building: 116)

Authors (first author is the speaker)

1. Yuqun Dong

Abstract

Energy storage plays a key role in harvesting energy among heterogeneou energy sources. To transforming heterogeneous energy and planning storage capacity at regional strategic level, this paper simulates storage capacity settings for heterogeneous energy in a certain region (Jiangsu Province in China) from the perspective of investment portfolio. This paper then achieves the adjustments between generation side and storage side during operation under hedging ideology. At last, this paper takes thermal energy on storage side as an example to apply switching real option method in decision making for shifting from thermal energy into renewable energy during disposal. The conclusion shows that under a financial derivative perspective, planning of heterogeneous energy storage capacity is more efficient than existing regional plans and decision making of transformation contains investment triggers with higher option values. Thus, this paper can help the power system plan energy storage and manage heterogeneous energy more economically and completely at regional strategic level.

Keywords

Status: accepted

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