Crimson Publishers Publish With Us Reprints e-Books Video articles

Abstract

Psychology and Psychotherapy: Research Study

Research on the Modes of Joint Use of Generating and Storage Capacities to Minimize the Weighted Average Cost of Electricity While Covering the Load Schedule

Submission: November 15, 2024;Published: December 13, 2024

DOI: 10.31031/SIAM.2024.05.000609

ISSN 2639-0612
Volume5 Issue2

Abstract

Paper discusses the optimization of generation and storage technologies within power systems, focusing on minimizing electricity costs while ensuring reliable load coverage-an ongoing challenge for global power grids. Through test calculations, the study provides numerical estimates, maps the optimal distribution of generating and storage capacities, and evaluates the required hourly costs for electricity supply across different load schedules. The research explores the integration of various energy sources, including traditional generation and energy storage systems, to minimize overall electricity costs while meeting demand. The importance of calculating the weighted average cost of electricity, considering various discount rates and the relative costs of generation technologies, is emphasized. Additionally, the study highlights the strategic use of storage systems for both charging and discharging based on demand conditions, further reducing costs. A detailed analysis of the optimal distribution of generating and storage capacities is presented, underlining the role of storage systems in balancing load variations. The dual role of storage-acting as both a consumer and a supplier of electricity-enables more efficient use of available capacity, especially in combination with other generation technologies like nuclear and thermal power plants. The findings offer practical approaches for energy system operators and policymakers to design more economically efficient and sustainable power generation systems. Given the growing importance of renewable energy integration and energy storage, this research lays the foundation for future advancements in optimizing the energy balance and addressing challenges related to fluctuating energy demand.

Keywords:Generation and storage technologies; Integration of various energy sources; Analysis of the optimal distribution of generating and storage capacities

Abbreviations:CHP: Combined Heat and Power; HPP: Hydropower Plant; IPS: Integrated Power System; NPP: Nuclear Power Plant; PSPP: Pumped Storage Power Plant; RES: Renewable Energy Sources; SS: Battery Electric Storage System; TPP: Thermal Power Plant

Get access to the full text of this article

About Crimson

We at Crimson Publishing are a group of people with a combined passion for science and research, who wants to bring to the world a unified platform where all scientific know-how is available read more...

Leave a comment

Contact Info

  • Crimson Publishers, LLC
  • 260 Madison Ave, 8th Floor
  •     New York, NY 10016, USA
  • +1 (929) 600-8049
  • +1 (929) 447-1137
  • info@crimsonpublishers.com
  • www.crimsonpublishers.com