Leveraging Energy Storage Resources to Improve Combined Cycle Power Plant Operational Efficiency
Title: Leveraging Energy Storage Resources to Improve Combined Cycle Power Plant Operational Efficiency
Presenter: Dr. Fengyu Wang, Assistant Professor of Electrical and Computer Engineering at NMSU
Abstract: The combined cycle power plants (CCPP) are gaining tractions in recent years due to lower natural gas prices and higher efficiency. CCPPs can also provide flexibility to relieve variability and uncertainties introduced by rapidly growing intermittent resources. Due to complex structure, CCPPs have nonconvex and nonlinear cost curves. However, regional transmission organizations (RTO’s) can only process piecewise linear cost curves due to the computational complexity of RTO’s electricity market models. Approximating nonconvex cost curves of CCPPs using piecewise linear cost curve will lead to inefficient dispatch. The energy storage resources can play an important role in bridging this discrepancy. This seminar will discuss strategy of optimally coordinating energy storage resources and CCPPs to improve operational efficiency of CCPPs.