Profitable Production of Stable Electrical Power Using Wind-battery Hybrid Power Systems: A Case Study from Mt. Taegi, South Korea
In this study, wind-battery hybrid power systems are designed, evaluated, and optimized for regular supply of electrical power at a designated minimum load level with no shortage. Our simulation uses lead-acid batteries and vanadium redox flow batteries (VRBs) for storage, and utilizes hourly wind speed data measured in 2012 at Mt. Taegi in South Korea. Twenty Vestas V80 wind turbines, each rated at 2 MW, are used as power generators, on the basis of an actual wind turbine project recently installed at Mt. Taegi. Sale to the main grid of electricity generated in excess of the minimum load offset the initial capital costs for installation of the wind turbines and batteries. Results show that the optimized wind-VRB hybrid system can supply more than 9 MW of regular electrical power at no cost. Even higher levels of production are profitable with sale of the wind-generated electricity directly to a demand site at a price greater than the price of sales to the main grid. A reduction in the VRB electrolyte costs and an increase in carbon taxes can also increase profitability.
KeywordsWind power Wind hybrid systems Energy storage systems Microgrid simulation
List of symbols
Hybrid optimization model for multiple energy resources
Vanadium redox flow battery
Korea power exchange
Korea Electric Power Corporation
Hybrid renewable energy systems
Net present revenue ($)
Net present cost ($)
System marginal price ($)
System marginal price for each hour during a year ($)
Emission trading scheme
Wind speed at the hub height of the wind turbine (m/s)
Wind speed at the anemometer height (m/s)
Hub height of the wind turbine (m)
Anemometer height (m)
Surface roughness length (m)
Real interest rate (%)
This work was supported by the Korea Institute of Energy Technology Evaluation and Planning (KETEP) and the Ministry of Trade, Industry & Energy (MOTIE) of the Republic of Korea (No. 20173010032170).
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