Authors
Ángel Arcos-Vargas, David Canca, Fernando Núñez
Publication date
2021/1/1
Book
Mathematical Modelling of Contemporary Electricity Markets
Pages
209-224
Publisher
Academic Press
Description
Concern for the environment, combined with cost reduction and efficiency improvements in renewable energy generation facilities, is leading to a significant increase in their share of the energy mix. Given the unmanageable and seasonal nature of these technologies, as well as the rules of wholesale market, large price differences appear, even over the course of the same day. In order to develop a potential business model based on energy arbitrage, a Linear Mixed-Integrated Programming model has been developed to obtain optimal strategies for buying and selling electricity by energy storage systems considering a full year of hourly electricity prices. For each configuration (battery size/inverter size), the model provides an optimal business strategy. Given the size of each yearly model and since we are interested in obtaining the best strategy for each battery-converter combination until the actual capacity of the …
Scholar articles
Á Arcos-Vargas, D Canca, F Núñez - Mathematical Modelling of Contemporary Electricity …, 2021