Scientists from Norway's Institute for Energy Technology have assessed the profitability of battery storage in hybrid hydropower and floating PV plants. They have found that the profitability of such facilities could be increased by up to 2%.
The scientists ran cost-optimal assessments for systems with and without batteries, and then compared their profitability in light of capacity markets, ancillary services, and energy arbitrage.
“This paper investigates the profitability potential for a viable business case for battery storage integration with utility-scale hybrid hydropower-solar photovoltaic plants,” they said. “It is based on a hypothetical, two-reservoir cascaded hydropower plant in Sub-Saharan Africa.”
“The co-optimized case, in which both battery and [floating PV] are optimized for cost-efficiency, increases profitability by 0.6% compared to the base case,” they said.
The academics presented their findings in “Profitability of battery storage in hybrid hydropower–solar photovoltaic plants,” which was recently published in the Journal of Energy Storage.
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