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Optimal Sizing and Pricing of Grid-Connected Renewable Power to Ammonia Systems Considering the Limited Flexibility of Ammonia Synthesis
Yu,Zhipeng1; Lin,Jin1; Liu,Feng1; Li,Jiarong1; Zhao,Yuxuan2; Song,Yonghua3,6; Song,Yanhua4; Zhang,Xinzhen5
2024-03
Source PublicationIEEE Transactions on Power Systems
ISSN0885-8950
Volume39Issue:2Pages:3631-3648
Abstract

Converting renewable energy into ammonia has been recognized as a promising way to realize “green hydrogen substitution” in the chemical industry. However, renewable power to ammonia (RePtA) requires an essential investment in facilities to provide a buffer against the strong volatility of renewable energy and the limited flexibility of ammonia synthesis, which involves the three main stakeholders, namely, power, hydrogen, and ammonia. Therefore, the sizing and pricing of RePtA play a core role in balancing the interest demands of investors. This paper proposes an optimal sizing and pricing method for grid-connected RePtA systems planning. First, power to ammonia (P2A) is modeled as a flexible load, especially considering the limited flexibility of ammonia synthesis, which has been verified using real dynamic regulation data. Second, the multi-investor economic (MIE) model is established considering both external and internal trading modes. Then, a two-stage decomposed sizing and pricing method is proposed to solve the problem caused by the strong coupling of planning, operation, and trading. The information gap decision theory (IGDT) method is utilized to handle the uncertainty of renewable generation. Finally, real data from a real-life system in Inner Mongolia are utilized to verify the proposed approach. The results show that the system proposed has an internal rate of return (IRR) of 8.55%, which indicates the practical feasibility of the proposed planning method.

DOI10.1109/TPWRS.2023.3279130
URLView the original
Indexed BySCIE
Language英語English
WOS Research AreaEngineering
WOS SubjectEngineering, Electrical & Electronic
WOS IDWOS:001177135800091
PublisherIEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC, 445 HOES LANE, PISCATAWAY, NJ 08855-4141
Scopus ID2-s2.0-85161030324
Fulltext Access
Citation statistics
Document TypeJournal article
CollectionFaculty of Science and Technology
DEPARTMENT OF ELECTRICAL AND COMPUTER ENGINEERING
DEPARTMENT OF COMPUTER AND INFORMATION SCIENCE
Corresponding AuthorLin,Jin
Affiliation1.State Key Laboratory of Control and Simulation of Power Systems and Generation Equipment, Department of Electrical Engineering, Tsinghua University, Beijing, China
2.School of Electric Power Engineering, South China University of Technology, Guangzhou, China
3.Department of Electrical and Computer Engineering, University of Macau, Macau, China
4.Shenzhen Edo Renewable Co., Ltd, Shenzhen, China
5.Sichuan Energy Internet Reasearch Institute, Tsinghua University, Chengdu, China
6.Department of Electrical Engineering, Tsinghua University, Beijing 100087, China
Recommended Citation
GB/T 7714
Yu,Zhipeng,Lin,Jin,Liu,Feng,et al. Optimal Sizing and Pricing of Grid-Connected Renewable Power to Ammonia Systems Considering the Limited Flexibility of Ammonia Synthesis[J]. IEEE Transactions on Power Systems, 2024, 39(2), 3631-3648.
APA Yu,Zhipeng., Lin,Jin., Liu,Feng., Li,Jiarong., Zhao,Yuxuan., Song,Yonghua., Song,Yanhua., & Zhang,Xinzhen (2024). Optimal Sizing and Pricing of Grid-Connected Renewable Power to Ammonia Systems Considering the Limited Flexibility of Ammonia Synthesis. IEEE Transactions on Power Systems, 39(2), 3631-3648.
MLA Yu,Zhipeng,et al."Optimal Sizing and Pricing of Grid-Connected Renewable Power to Ammonia Systems Considering the Limited Flexibility of Ammonia Synthesis".IEEE Transactions on Power Systems 39.2(2024):3631-3648.
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