Economics of shaping offshore wind power generation via energy storage in China
In: Energy (Oxford). Pergamon Press: Oxford; New York. ISSN 0360-5442; e-ISSN 1873-6785, more
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| Authors | | Top |
- Pan, G.
- Zhuang, W.
- Gu, W.
- Gu, Z.
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| Abstract |
The precise status and scale of offshore wind as a critical component of China's new-type power system is unclear. Existing studies on the economics and potential of offshore wind power lacked the inter-annual variability of wind resources. Here, we established a levelized cost of shaped energy (LCOSE) optimization model to assess the economics of shaping offshore wind power via energy storage into desired output profiles in China. The results show that the LCOSE of intermittent offshore wind power increases sharply via storage shaping into desired output profiles. Under a power and energy capacity cost of 1000 $/kW and 20 $/kWh, the LCOSE range of screened more than 300 locations in China is 0.18–0.67 $/kWh, with a 1 to 4-fold growth compared with the wind power alone scenario, especially having a significant impact on the development of low-cost wind power. Compared with power capacity cost, energy capacity cost is the decisive factor affecting LCOSE. Provincial energy storage integration (grid-based spatial transfer) and appropriate unmet load (10 %) become essential means to achieve competitive development of offshore wind power. |
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