Improving Wind Power Market Value with Various Aspects of Diversification: Preprint

Til Kristian Vrana; Harald Svendsen; Magnus Korpas; Antonio Couto; Ana Estanqueiro; Damian Flynn; Hannele Holttinen; Philipp Hartel; Matti Koivisto; Eric Lantz; Bethany Frew

Improving Wind Power Market Value with Various Aspects of Diversification: Preprint

Til Kristian Vrana, Harald Svendsen, Magnus Korpas, Antonio Couto, Ana Estanqueiro, Damian Flynn, Hannele Holttinen, Philipp Hartel, Matti Koivisto, Eric Lantz, Bethany Frew

Research output: Contribution to conference › Paper

Abstract

The wind generation share in many European bidding zones is already large enough to impact the market value of wind power and wind energy is getting less-than-average market price in day-ahead markets. As alternatives to investing in dedicated energy storage, there are two main ways to mitigate the decreasing market value trend, the first being different diversification measures (geographical spread, alternative wind turbine technologies, integration with solar), and the second being demand flexibility measures. Examples of these measures from some European and USA studies are given in this article, which stems from the international collaboration under IEA Wind TCP Tasks 25 and 53.

Original language	American English
Number of pages	9
State	Published - 2023
Event	19th International Conference on European Energy Markets (EEM23) - Lappeenranta, Finland Duration: 6 Jun 2023 → 8 Jun 2023

Conference

Conference	19th International Conference on European Energy Markets (EEM23)
City	Lappeenranta, Finland
Period	6/06/23 → 8/06/23

NREL Publication Number

NREL/CP-5000-86389

Keywords

diversification
market value
power markets
wind energy

Access to Document

https://www.nrel.gov/docs/fy23osti/86389.pdf

Cite this

Vrana, T. K., Svendsen, H., Korpas, M., Couto, A., Estanqueiro, A., Flynn, D., Holttinen, H., Hartel, P., Koivisto, M., Lantz, E., & Frew, B. (2023). Improving Wind Power Market Value with Various Aspects of Diversification: Preprint. Paper presented at 19th International Conference on European Energy Markets (EEM23), Lappeenranta, Finland. https://www.nrel.gov/docs/fy23osti/86389.pdf

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title = "Improving Wind Power Market Value with Various Aspects of Diversification: Preprint",

abstract = "The wind generation share in many European bidding zones is already large enough to impact the market value of wind power and wind energy is getting less-than-average market price in day-ahead markets. As alternatives to investing in dedicated energy storage, there are two main ways to mitigate the decreasing market value trend, the first being different diversification measures (geographical spread, alternative wind turbine technologies, integration with solar), and the second being demand flexibility measures. Examples of these measures from some European and USA studies are given in this article, which stems from the international collaboration under IEA Wind TCP Tasks 25 and 53.",

keywords = "diversification, market value, power markets, wind energy",

author = "Vrana, {Til Kristian} and Harald Svendsen and Magnus Korpas and Antonio Couto and Ana Estanqueiro and Damian Flynn and Hannele Holttinen and Philipp Hartel and Matti Koivisto and Eric Lantz and Bethany Frew",

year = "2023",

language = "American English",

note = "19th International Conference on European Energy Markets (EEM23) ; Conference date: 06-06-2023 Through 08-06-2023",

}

Vrana, TK, Svendsen, H, Korpas, M, Couto, A, Estanqueiro, A, Flynn, D, Holttinen, H, Hartel, P, Koivisto, M, Lantz, E & Frew, B 2023, 'Improving Wind Power Market Value with Various Aspects of Diversification: Preprint', Paper presented at 19th International Conference on European Energy Markets (EEM23), Lappeenranta, Finland, 6/06/23 - 8/06/23. <https://www.nrel.gov/docs/fy23osti/86389.pdf>

TY - CONF

T1 - Improving Wind Power Market Value with Various Aspects of Diversification: Preprint

AU - Vrana, Til Kristian

AU - Svendsen, Harald

AU - Korpas, Magnus

AU - Couto, Antonio

AU - Estanqueiro, Ana

AU - Flynn, Damian

AU - Holttinen, Hannele

AU - Hartel, Philipp

AU - Koivisto, Matti

AU - Lantz, Eric

AU - Frew, Bethany

PY - 2023

Y1 - 2023

N2 - The wind generation share in many European bidding zones is already large enough to impact the market value of wind power and wind energy is getting less-than-average market price in day-ahead markets. As alternatives to investing in dedicated energy storage, there are two main ways to mitigate the decreasing market value trend, the first being different diversification measures (geographical spread, alternative wind turbine technologies, integration with solar), and the second being demand flexibility measures. Examples of these measures from some European and USA studies are given in this article, which stems from the international collaboration under IEA Wind TCP Tasks 25 and 53.

AB - The wind generation share in many European bidding zones is already large enough to impact the market value of wind power and wind energy is getting less-than-average market price in day-ahead markets. As alternatives to investing in dedicated energy storage, there are two main ways to mitigate the decreasing market value trend, the first being different diversification measures (geographical spread, alternative wind turbine technologies, integration with solar), and the second being demand flexibility measures. Examples of these measures from some European and USA studies are given in this article, which stems from the international collaboration under IEA Wind TCP Tasks 25 and 53.

KW - diversification

KW - market value

KW - power markets

KW - wind energy

M3 - Paper

T2 - 19th International Conference on European Energy Markets (EEM23)

Y2 - 6 June 2023 through 8 June 2023

ER -

Improving Wind Power Market Value with Various Aspects of Diversification: Preprint

Abstract

Conference

NREL Publication Number

Keywords

Access to Document

Fingerprint

Cite this