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Article
Publication date: 7 March 2023

Anastasios Chrysochoou, Dimitris Zissis, Konstantinos Chalvatzis and Kostas Andriosopoulos

The purpose of this study is to investigate the impact of the construction and operation of underground gas storage (UGS) facilities, under the prism of the recent rise in energy

Abstract

Purpose

The purpose of this study is to investigate the impact of the construction and operation of underground gas storage (UGS) facilities, under the prism of the recent rise in energy prices. The focus is on developing energy markets interconnected with gas producers through pipelines and has access to liquefied natural gas (LNG) facilities in parallel.

Design/methodology/approach

Through a focal market in Europe, the authors estimate the economic value for both stakeholders and consumers by introducing a methodology, appropriately adjusted to the specificities of the domestic energy market. The Transmission System Operator, the Energy Market Regulator, the Energy Exchange and Eurostat are the main data sources for our calculations and conclusions.

Findings

The authors investigate the perspectives of UGS facilities, identifying financial challenges considering specific energy market conditions which are barriers to new storage facilities. Nevertheless, the energy price rocketing coupled with the security of gas supply issues, which arose in autumn 2021 and were continuing in 2022 due to the Russia–Ukraine crisis, highlight that gas storage remains, at least for the midterm, at the core of European priorities.

Originality/value

The paper emphasizes on developing markets toward green transition, proposing tangible policy recommendations regarding gas storage. A new methodological approach is proposed, appropriate to quantify the economic value of UGSs in such markets. Last, a mix of energy policy options is suggested which include regulatory reforms, support schemes and new energy infrastructures that could make the gas storage investments economically viable.

Details

Benchmarking: An International Journal, vol. 31 no. 2
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 14 October 2009

Georgina Harell and Tugrul U. Daim

In order to compliment the growing use of renewable energies in the US, additional technologies must be employed on the bulk power system. This paper aims to forecast the most

2701

Abstract

Purpose

In order to compliment the growing use of renewable energies in the US, additional technologies must be employed on the bulk power system. This paper aims to forecast the most probable energy storage technologies.

Design/methodology/approach

The methodology was deployed in two steps: evaluate the potential energy storage technologies that could complement a wind turbine or photovoltaic system; and forecast which of these technologies is best poised to become a viable solution to the energy storage problem facing these renewable technologies.

Findings

Based on the publication and patent data, compressed air energy is set to be the fastest growing complimentary technology to wind energy. Two of these types of plants are currently in existence today as mentioned previously indicating the technology is commercially available. This technology has great potential; however, implementing this technology involves finding or creating underground airtight caverns in usable locations.

Research limitations/implications

The number of variables have been limited due to the methodologies chosen for this analysis. The research can be expanded using other criteria such as cost, cost of capital, economies of scale, environmental concerns, social and political constraints.

Originality/value

This paper provides an assessment that was indicated as necessary by those who identified the need for the development of energy storage technologies for future electricity generation.

Details

Foresight, vol. 11 no. 6
Type: Research Article
ISSN: 1463-6689

Keywords

Book part
Publication date: 5 June 2023

Harmeet Singh, Fatemeh Massah and Paul G. O'Brien

In this chapter the potential to use water-based Trombe walls to provide heated water for building applications during the summer months is investigated. Design Builder software…

Abstract

In this chapter the potential to use water-based Trombe walls to provide heated water for building applications during the summer months is investigated. Design Builder software is used to model a simple single-story building with a south-facing Trombe wall. The effects of using different thermal storage mediums within the Trombe wall on building heating loads during the winter and building cooling loads during the summer are modeled. The amount of thermal energy stored and temperature of water within the thermal storage medium during hot weather conditions were also simulated. On a sunny day on Toronto, Canada, the average temperature of the water in a Trombe wall integrated into a single-story building can reach ∼57°C, which is high enough to provide for the main hot water usages in buildings. Furthermore, the amount of water heated is three times greater than that required in an average household in Canada. The results from this work suggest that water-based Trombe walls have great potential to enhance the flexibility and utility of Trombe walls by providing heated water for building applications during summer months, without compromising performance during winter months.

Details

Pragmatic Engineering and Lifestyle
Type: Book
ISBN: 978-1-80262-997-2

Keywords

Article
Publication date: 10 August 2022

Xing Yao, Shao-Chao Ma, Ying Fan, Lei Zhu and Bin Su

The ongoing urbanization and decarbonization require deployment of energy storage in the urban energy system to integrate large-scale variable renewable energy (VRE) into the…

Abstract

Purpose

The ongoing urbanization and decarbonization require deployment of energy storage in the urban energy system to integrate large-scale variable renewable energy (VRE) into the power grids. The cost reductions of batteries enable private entities to invest energy storage for energy management whose operating strategy may differ from traditional storage facilities. This study aims to investigate the impacts of energy storage on the power system with different operation strategies. Two strategies are modeled through a simulation-based regional economic power dispatch model. The profit-oriented strategy denotes the storage system operated by private entities for price arbitrage, and the nonprofit-oriented strategy denotes the storage system dispatched by an independent system operator (ISO) for the whole power system optimization. A case study of Jiangsu, China is conducted. The results show that the profit-oriented strategy only has a very limited impact on the cost reductions of power system and may even increase the cost for consumers. While nonprofit-oriented energy storage performs a positive effect on the system cost reduction. CO2 emission reduction can only be achieved under a high VRE scenario for energy storage. Integrating energy storage into the power system may increase CO2 emissions in the near term. In addition, the peak-valley spread is crucial to trigger operations of profit-oriented energy storage, and the profitability of energy storage operator is observed to be decreasing with the total storage capacity. This study provides new insights for the energy management in the smart city, and the modeling framework can be applied to regions with different resource endowments.

Design/methodology/approach

The authors characterize two battery storage operating strategies of profit- and nonprofit-oriented by adopting a simulation-based economic dispatch model. A simulation from 36 years of hourly weather data of wind and solar output from case study of Jiangsu, China is conducted.

Findings

The results show that the profit-oriented strategy only has a very limited impact on the cost reductions of power system and may even increase the cost for consumers. While nonprofit-oriented energy storage performs a positive effect on the system cost reduction. CO2 emission reduction can only be achieved under high VRE scenario for energy storage. Integrating energy storage into the power system may increase CO2 emissions in the near term. In addition, the peak-valley spread is crucial to trigger operations of profit-oriented energy storage, and the profitability of energy storage operator is observed to be decreasing with the total storage capacity.

Originality/value

This study provides new insights for the energy management in the smart city, and the modeling framework can be applied to regions with different resource endowments.

Details

Industrial Management & Data Systems, vol. 122 no. 10
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 2 October 2018

Sarah Krömer and Nadine Gatzert

The purpose of this paper is to study investments in renewable energy projects which are jointly operated with an energy storage system, with particular focus on risk-return…

Abstract

Purpose

The purpose of this paper is to study investments in renewable energy projects which are jointly operated with an energy storage system, with particular focus on risk-return characteristics from the perspective of private and institutional investors, taking into account resource risk, energy price risk, inflation risk and policy risk.

Design/methodology/approach

To this end, this paper presents a stochastic discounted cash flow model which is then applied to a wind farm with a pumped hydro storage system.

Findings

The results show that energy storage systems have the potential to increase the expected present value of future investment cash flows and to hedge (downside) risk. However, to realize this potential, storage systems have to be cost-effective in terms of fixed operation, maintenance, staffing and insurance costs. Also, several key factors are identified which have a considerable influence on the performance of the operation strategy.

Originality/value

The paper contributes to the literature by conducting an analysis of (downside) risk and return of renewable energy investments with a storage system taking into account stochastic policy, resource, inflation and energy price risk.

Details

International Journal of Energy Sector Management, vol. 12 no. 4
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 10 August 2015

Uroš Stritih, Halime Paksoy, Bekir Turgut, Eneja Osterman, Hunay Evliya and Vincenc Butala

Bilateral project with Slovenia and Turkey with the title thermal energy storage for efficient utilization of solar energy was the basis for this paper. The paper aims to discuss…

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Abstract

Purpose

Bilateral project with Slovenia and Turkey with the title thermal energy storage for efficient utilization of solar energy was the basis for this paper. The paper aims to discuss this issue.

Design/methodology/approach

The paper is the review of solar thermal storage technologies with examples of use in Slovenia and Turkey.

Findings

The authors have found out that compact and cost effective thermal energy storage are essential.

Research limitations/implications

Research on the field of thermal energy storage in Slovenia and Turkey is presented.

Practical implications

The paper presents solar systems in Slovenia and Turkey.

Originality/value

The paper gives information about the sustainable energy future on the basis of solar energy.

Details

Management of Environmental Quality: An International Journal, vol. 26 no. 5
Type: Research Article
ISSN: 1477-7835

Keywords

Article
Publication date: 12 September 2023

Mingzhen Song, Lingcheng Kong and Jiaping Xie

Rapidly increasing the proportion of installed wind power capacity with zero carbon emission characteristics will help adjust the energy structure and support the realization of…

Abstract

Purpose

Rapidly increasing the proportion of installed wind power capacity with zero carbon emission characteristics will help adjust the energy structure and support the realization of carbon neutrality targets. The intermittency of wind resources and fluctuations in electricity demand has exacerbated the contradiction between power supply and demand. The time-of-use pricing and supply-side allocation of energy storage power stations will help “peak shaving and valley filling” and reduce the gap between power supply and demand. To this end, this paper constructs a decision-making model for the capacity investment of energy storage power stations under time-of-use pricing, which is intended to provide a reference for scientific decision-making on electricity prices and energy storage power station capacity.

Design/methodology/approach

Based on the research framework of time-of-use pricing, this paper constructs a profit-maximizing electricity price and capacity investment decision model of energy storage power station for flat pricing and time-of-use pricing respectively. In the process, this study considers the dual uncertain scenarios of intermittency of wind resources and random fluctuations in power demand.

Findings

(1) Investment in energy storage power stations is the optimal decision. Time-of-use pricing will reduce the optimal capacity of the energy storage power station. (2) The optimal capacity of the energy storage power station and optimal electricity price are related to factors such as the intermittency of wind resources, the unit investment cost, the price sensitivities of the demand, the proportion of time-of-use pricing and the thermal power price. (3) The carbon emission level is affected by the intermittency of wind resources, price sensitivities of the demand and the proportion of time-of-use pricing. Incentive policies can always reduce carbon emission levels.

Originality/value

This paper creatively introduced the research framework of time-of-use pricing into the capacity decision-making of energy storage power stations, and considering the influence of wind power intermittentness and power demand fluctuations, constructed the capacity investment decision model of energy storage power stations under different pricing methods, and compared the impact of pricing methods on optimal energy storage power station capacity and carbon emissions.

Highlights

  1. Electricity pricing and capacity of energy storage power stations in an uncertain electricity market.

  2. Investment strategy of energy storage power stations on the supply side of wind power generators.

  3. Impact of pricing method on the investment decisions of energy storage power stations.

  4. Impact of pricing method, energy storage investment and incentive policies on carbon emissions.

  5. A two-stage wind power supply chain including energy storage power stations.

Electricity pricing and capacity of energy storage power stations in an uncertain electricity market.

Investment strategy of energy storage power stations on the supply side of wind power generators.

Impact of pricing method on the investment decisions of energy storage power stations.

Impact of pricing method, energy storage investment and incentive policies on carbon emissions.

A two-stage wind power supply chain including energy storage power stations.

Details

Industrial Management & Data Systems, vol. 123 no. 11
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 11 January 2024

Burak Kiyak, Hakan Fehmi Oztop and Ishak Gökhan Aksoy

The purpose of this study is to examine the effects of inclination angle on the thermal energy storage capability of a phase change material (PCM) within a disc-shaped container…

Abstract

Purpose

The purpose of this study is to examine the effects of inclination angle on the thermal energy storage capability of a phase change material (PCM) within a disc-shaped container. Different container materials are also tested such as plexiglass and aluminium. This study aims to assess the energy storage capacity, melting behaviour and temperature distributions of PCM with a specific melting range (22°C–26°C) for various governing parameters such as inclination angles, aspect ratios (AR) and temperature differences (ΔT) and compare the melting behaviour and energy storage performance of PCM in aluminium containers to those in plexiglass containers.

Design/methodology/approach

A finite volume approach was adopted to evaluate the thermal energy storage capability of PCMs. Five inclination angles ranging from 0° to 180° were considered and the energy storage capacity. Also, the melting behaviour of the PCM and temperature distributions of the container with different materials were tested. Two different AR and ΔT values were chosen as parameters to analyse for their effects on the melting performance of the PCM. Conjugate heat transfer problem is solved to see the effects of conduction mode of heat transfer.

Findings

The results of the study indicate that as AR decreases, the effect of the inclination angles on the energy storage capacity of the PCM decreases. For lower ΔT, the difference between the maximum and minimum stored energies was 20.88% for AR = 0.20, whereas it was 6.85% for AR = 0.15. Furthermore, under the same conditions, the PCM stored 8.02% more energy in plexiglass containers than in aluminium containers.

Originality/value

This study contributes to the understanding of the influence of inclination angle, container material, AR and ΔT on the thermal energy storage capabilities of PCM in a novel designed container. The findings highlight the importance of AR in mitigating the effect of the inclination angle on energy storage capacity. Additionally, comparing aluminium and plexiglass containers provides insights into the effect of container material on the melting behaviour and energy storage properties of PCM.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 34 no. 3
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 12 September 2022

Sheng Wei

This paper aims to study a power management circuit for a piezoelectric vibration energy harvester. It presents how to accumulate energy and provide regulated DC voltage for…

Abstract

Purpose

This paper aims to study a power management circuit for a piezoelectric vibration energy harvester. It presents how to accumulate energy and provide regulated DC voltage for practical applications.

Design/methodology/approach

Energy storage and extraction circuit are proposed. While the storage stage consists of a full wave rectifier and a storage capacitor, the extraction stage includes a voltage comparator and regulator, which may provide the load steady DC voltage when the voltage of the storage capacitor is higher than the threshold.

Findings

The numerical analysis and experimental results indicate that it takes a longer time to charge to a specified voltage for the greater storage capacitor and the net charge flowing into the storage capacitor during each period decreases when the voltage of the storage capacitor is higher. The higher threshold voltage of the capacitor has lower harvesting efficiency owing to the rate of charging of the storage capacitor slowing down over time.

Research limitations/implications

Because of the chosen research method, the power management circuit is only suitable for the piezoelectric vibration energy harvester under resonant conditions.

Practical implications

This study includes practically useful applications for users to build a power management circuit for piezoelectric energy harvester.

Originality/value

This study presents results that the charging efficiency of the storage circuit is relative to the storage capacitor and the threshold voltage.

Details

Circuit World, vol. 49 no. 1
Type: Research Article
ISSN: 0305-6120

Keywords

Book part
Publication date: 5 June 2023

Mehdi Ebrahimi, David S-K. Ting and Rupp Carriveau

Sustainable development calls for a larger share of intermittent renewable energy. To mitigate this intermittency, Compressed Air Energy Storage (CAES) technology was introduced…

Abstract

Sustainable development calls for a larger share of intermittent renewable energy. To mitigate this intermittency, Compressed Air Energy Storage (CAES) technology was introduced. This technology can be made more sustainable by recovering the heat of the compression phase and reusing it during the discharge phase, resulting in an adiabatic CAES without the need for burning of fossil fuels. The key process parameters of CAES are temperature, pressure ratios, and the mass flow rates of air and thermal fluids. The variation in these parameters during the charge and discharge phases significantly influences the performance of CAES plants. In this chapter, the transient thermodynamic behavior of the system under various operating conditions is analyzed and the impact of heat recovery on the discharge phase energy efficiency, power generation, and CO2 emissions is studied. Simulations are carried out over the air pressure range from 2,500 to 7,000 kPa for a 65 MW system over a five-hour discharge duration. It is also assumed that the heat loss in the air storage and the hot thermal fluid tank is insignificant and standby duration does not impact the status of the system. This result shows that the system exergy and the generated power are more sensitive to pressure change at higher pressures. This work also reveals that every 10°C increase on the temperature of the stored air can lead to a 0.83% improvement in the energy efficiency. The result of the transient thermodynamic model is used to estimate the reduction in CO2 emissions in CAES systems. According to the obtained result, a 65 MW ACAES plant can reduce about 17,794 tons of CO2 emission per year compared to a traditional CAES system with the same capacity.

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