Bertsch, Valentin and Lynch, Muireann and Devine, Mel (2019) The role of power-to-gas in the future energy system: Market and portfolio effects. Energy, pp. 1197-1209. Elsevier. doi: 10.1016/j.energy.2019.07.089. ISSN 0360-5442.
Full text not available from this repository.
Official URL: https://www.sciencedirect.com/science/article/abs/pii/S0360544219314306?via%3Dihub
Abstract
Electricity systems based on renewables have an increasing demand for flexibility. This paper considers the potential of power-to-gas to provide flexibility and enhance System integration of renewables. Existing research on power-to-gas typically analyses the system effects of a predetermined power-to-gas unit without endogenising the investment decision. Moreover, insights related to market and Portfolio effects of power-to-gas are rare. To this end this work presents a stochastic electricity market model. Market players considered include generating firms with different generation portfolios and different consumer groups. Firms earn revenues from an energy market, a capacity market and a feed-in premium for renewable generation. They maximise their profits by optimising the operation of existing assets and investing in new generation assets and power-to-gas. Firms with renewable generation benefit from investing in power-to-gas. While the technology itself is loss-making, power-to-gas particularly increases demand and hence prices in low-load hours. Therefore, renewable generation becomes more profitable, which justifies the investment. Metrics such as LCOE, which consider each technology in isolation, fail to capture this effect. The increase in the electricity Price results in higher costs to consumers and so the Overall transfer from consumers to wind generators increases in the presence of power-to-gas.
Item URL in elib: | https://elib.dlr.de/128934/ | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Document Type: | Article | ||||||||||||
Title: | The role of power-to-gas in the future energy system: Market and portfolio effects | ||||||||||||
Authors: |
| ||||||||||||
Date: | 15 October 2019 | ||||||||||||
Journal or Publication Title: | Energy | ||||||||||||
Refereed publication: | Yes | ||||||||||||
Open Access: | No | ||||||||||||
Gold Open Access: | No | ||||||||||||
In SCOPUS: | Yes | ||||||||||||
In ISI Web of Science: | Yes | ||||||||||||
DOI : | 10.1016/j.energy.2019.07.089 | ||||||||||||
Page Range: | pp. 1197-1209 | ||||||||||||
Publisher: | Elsevier | ||||||||||||
Series Name: | Elsevier Energy | ||||||||||||
ISSN: | 0360-5442 | ||||||||||||
Status: | Published | ||||||||||||
Keywords: | The role of power-to-gas in the future energy system: Market and portfolio effects | ||||||||||||
HGF - Research field: | Energy | ||||||||||||
HGF - Program: | Technology, Innovation and Society | ||||||||||||
HGF - Program Themes: | Renewable Energy and Material Resources for Sustainable Futures - Integrating at Different Scales | ||||||||||||
DLR - Research area: | Energy | ||||||||||||
DLR - Program: | E SY - Energy Systems Analysis | ||||||||||||
DLR - Research theme (Project): | E - Systems Analysis and Technology Assessment (old) | ||||||||||||
Location: | Stuttgart | ||||||||||||
Institutes and Institutions: | Institute of Engineering Thermodynamics > Energy Systems Analysis | ||||||||||||
Deposited By: | Borovleva, Tatiana | ||||||||||||
Deposited On: | 16 Dec 2019 15:34 | ||||||||||||
Last Modified: | 16 Dec 2019 15:34 |
Repository Staff Only: item control page