The Impact of Multi-Market Operational and Sizing Optimisation for Upcoming Offshore Energy Areas
article
The adoption of renewable energy technologies presents challenges in balancing variable energy supply with demand and ensuring grid stability. Hybrid Power Plants (HPPs) with flexible assets like energy storage and conversion can engage in multiple markets for these purposes, thereby accessing diversified revenue streams (revenue stacking). The dynamic nature of HPP operations complicates the application of theoretically optimal setpoints to real asset constraints. This study presents two key contributions. The first is a quantitative assessment of the added value of revenue stacking, specifically through participation in the day-ahead market and automatic Frequency Restoration Reserves (aFRR). The hypothetical offshore hybrid system is located in the Dutch part of the North Sea, including offshore wind and solar power, a battery storage system and an electrolyser. The analysis is performed using a nested optimisation framework, integrating both sizing and operational decision-making. The second contribution quantifies the added value of incorporating a physics-based correction step to refine linearised setpoints. The results show consistent improvements in profit by revenue stacking (5-6%) compared to the single-market approach. Potential for higher profits was limited by an increase of grid tariffs in the multi-market cases and the relatively limited aFRR market volume. The proposed physics-informed sizing and operational optimisation approach is broadly applicable to both onshore and offshore systems, providing valuable insights for both private and public stakeholders.
Topics
TNO Identifier
1029367
ISSN
17426588
Source
Journal of Physics: Conferene Series, 3185(1)
Article nr.
012008