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In the last decade, Europe's energy policy and market have completely changed. The economic crisis and global warming have rewritten the rules so far. The need for cheap and environmentally friendly energy is growing nowadays as well. The gas prices have increased to a level, where with the current electricity prices the operation of gas fired power plants is not profitable anymore. That's why Hungarian...
In this paper we model the economic feasibility of compressed air energy storage (CAES) to improve wind power integration by means of a profit-maximizing algorithm. The Base Case is a wind park with 100MW of installed capacity and no storage facility. In Variant 1 we add a central CAES system with 90MW of compressor and 180MW of generation capacity. The compressed air is stored in a cavern. The CAES...
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