OPERATION OF BATTERY STORAGE IN HYBRID POWER PLANT IN AUSTRALIAN ELECTRICITY MARKET

Abstract

There is an increased interest for combining different generation sources into hybrid power plants for better utilization of grid infrastructure and allowing increased penetration of renewables around the world. Most of these hybrid power plants include some kind of storage such as battery storage. This enhances the possibility of energy arbitrage with the use of storage in the hybrid power plant. This paper performs a preliminary analysis of potential of storage for energy arbitrage in Australian electricity market which can be more characterized as real-time market. Feasibility analysis of storage is performed through calculation of net present value using a model predictive control based battery optimization methodology. Through different case studies, preliminary assessment suggests that battery storage can be a feasible option for energy arbitrage in Queensland electricity market.