LAPSE:2023.34943
Published Article
LAPSE:2023.34943
On the Value of Emerging, Day-Ahead Market Related Wind-Storage Narratives in Greece: An Early Empirical Analysis
Stefanos Tampakakis, Dimitrios Zafirakis
April 28, 2023
Large-scale integration of renewable energy sources introduces high levels of uncertainty in power systems. In addressing the inherent uncertainty of renewables, coupling with energy storage systems allows for improved dispatchability, not only in terms of power system integration but also in terms of market participation. To that end, we currently look into the coupling of wind energy and energy storage and assess the ex-post value of different, day-ahead market related wind−storage narratives. In doing so, we apply practical dispatch strategies using empirical market signals, vary the size of storage, and adopt different cycling patterns, treating the configurations examined as price-taker units. In addition, by integrating different wind regimes and several years of spot price series, we argue that our approach captures different spatial and temporal characteristics; thus, offering a broad, representative view of the value and associated risk of similar market scenarios in the study area of Greece.
Keywords
arbitrage, bidding strategies, day-ahead markets, empirical analysis, Energy Storage, target model, wholesale electricity prices, wind energy
Suggested Citation
Tampakakis S, Zafirakis D. On the Value of Emerging, Day-Ahead Market Related Wind-Storage Narratives in Greece: An Early Empirical Analysis. (2023). LAPSE:2023.34943
Author Affiliations
Tampakakis S: Soft Energy Applications & Environmental Protection Lab, Mechanical Engineering Department, University of West Attica, 122 43 Egaleo, Greece
Zafirakis D: Soft Energy Applications & Environmental Protection Lab, Mechanical Engineering Department, University of West Attica, 122 43 Egaleo, Greece
Journal Name
Energies
Volume
16
Issue
8
First Page
3506
Year
2023
Publication Date
2023-04-18
Published Version
ISSN
1996-1073
Version Comments
Original Submission
Other Meta
PII: en16083506, Publication Type: Journal Article
Record Map
Published Article

LAPSE:2023.34943
This Record
External Link

doi:10.3390/en16083506
Publisher Version
Download
Files
[Download 1v1.pdf] (6.8 MB)
Apr 28, 2023
Main Article
License
CC BY 4.0
Meta
Record Statistics
Record Views
110
Version History
[v1] (Original Submission)
Apr 28, 2023
 
Verified by curator on
Apr 28, 2023
This Version Number
v1
Citations
Most Recent
This Version
URL Here
https://psecommunity.org/LAPSE:2023.34943
 
Original Submitter
Auto Uploader for LAPSE
Links to Related Works
Directly Related to This Work
Publisher Version