Mechatronic energy storage project bidding

How many battery energy storage projects have won a bid?

Over a gigawatt of bids from battery storage project developers have been successful in the first-ever competitive auctions for low-carbon energy capacity held in Japan. A total 1.67GW of projects won contracts, including 32 battery energy storage system (BESS) totalling 1.1GW and three pumped hydro energy storage (PHES) projects totalling 577MW.

Does a profit-maximizing Ves merchant have a stochastic bid-offer model?

This paper intends to fill this gap and constitutes a first step in designing the stochastic bid-offer model of a profit-maximizing VES merchant to reflect its strategic participation in the stylized electricity market.

How do energy storage contracts work?

For standalone energy storage contracts, these are typically structured with a fixed monthly capacity payment plus some variable cost per megawatt hour (MWh) of throughput. For a combined renewables-plus-storage project, it may be structured with an energy-only price in lieu of a fixed monthly capacity payment.

Can a stochastic bidding problem be solved in all scenarios?

To address the stochastic issues above, this paper extends an all-scenario-feasible stochastic (ASFS) method to deal with this bidding problem, to obtain thesolution feasible for all scenarios while ensuring the non-anticipativity.

Which constraint determines the cost of generator availability in reactive market?

Constraint (21) determines the highest price for the cost of generator availability in the reactive market. Constraints (22), (23), (24) implement the MCP settlement method for reactive power for each of the three regions, including absorption, injection, and lost opportunity.