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Techno-Economic Analysis of Energy Storage Systems for Offshore Wind Farms

Bijl, Henry (2019) Techno-Economic Analysis of Energy Storage Systems for Offshore Wind Farms. Bachelor's Thesis, Industrial Engineering and Management.


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Energy storage systems (ESSs) can improve power system’s stability and efficiency, and overcome the intermittent character of renewable energy sources. However, ESSs will only be used if their application is economically viable. In this research, it is examined whether ESSs could improve the profitability of an offshore wind farm. From the traditional Levelized Cost Of Electricity (LCOE) metric, the LCOE’ was derived, which takes the extra profit of the ESSs into account as well. A linear optimization model was created and used, to determine the LCOE’ of the offshore wind farm in combination with and without ESSs. Moreover, the ESSs were deployed at offshore and onshore locations, to verify whether the location plays an important role for its profitability. The different investments are compared and indicated as profitable when their return rate is above 6%. Results show that several ESSs could reduce the LCOE’ of the offshore wind farm. The profitability of the different ESSs is influenced by both its technical parameters and costs. Large mature ESSs such as the pumped hydro and compressed air storages showed great potential, because of their low costs and moderate technical parameters. The storage system of the Ocean Grazer, a new concept of the University of Groningen, could significantly reduce the LCOE’ as well. The smaller ESSs of batteries and hydrogen fuel cells showed mixed results, mainly due to their limited capacities. Only lead acid and NaS batteries could slightly reduce the LCOE’. The research shows the economic potential of several ESSs for application to an offshore wind farm. However, it was found that PHS, CAES and the Ocean Grazer are not applicable to every wind farm. Therefore, nowadays it is not possible to significantly reduce the LCOE’. Furthermore, the performance is dependent on the location, offshore ESSs show better results than onshore ESSs. Nevertheless, the capital costs for offshore ESSs should be examined further as it is likely that these are significantly higher than for onshore ESSs. For all ESSs, it holds that their economic viability could be further improved by increasing the capacities, reducing the costs or improving other technical parameters.

Item Type: Thesis (Bachelor's Thesis)
Supervisor nameSupervisor E mail
Degree programme: Industrial Engineering and Management
Thesis type: Bachelor's Thesis
Language: English
Date Deposited: 12 Apr 2019
Last Modified: 15 Apr 2019 07:44

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