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Uncertainties in energy markets and their consideration in energy storage evaluation

This book successfully illustrates the modeling of electricity prices with the help of stochastic processes. The relatively new phenomenon of negative prices is also integrated into the models. The integration of feed-in from wind power plants in energy models is also very innovative. This approach...

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Main Author: Keles, Dogan
Format: Online
Language:English
Published: KIT Scientific Publishing 2021
Subjects:
HF5001-6182
wind power
energy storage
economic modeling
electricity prices
Uncertainties in energy economics
bic Book Industry Communication::K Economics, finance, business & management::KJ Business & management::KJC Business strategy
Online Access:35288
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Summary:This book successfully illustrates the modeling of electricity prices with the help of stochastic processes. The relatively new phenomenon of negative prices is also integrated into the models. The integration of feed-in from wind power plants in energy models is also very innovative. This approach helps to simulate electricity prices in order to take into account the ""merit-order effect of renewable energy"". Finally, the models are used for the techno-economic evaluation of energy storages.

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