Market model shows optimized strategies for implementing nuclear-renewable hybrid energy systems
Market model shows optimized strategies for implementing nuclear-renewable hybrid energy systems lead image
Advanced nuclear-renewable hybrid energy systems (HES) bring together nuclear and renewable energy sources, industrial energy users, and energy storage systems, and have attracted attention for future low-cost, low-carbon energy production. It remains to be seen, however, if such systems are economically viable.
Researchers demonstrated a market model for assessing the optimal implementation of HES into the current energy market. Using a simulated multi-timescale framework for the electricity market, Rahman and Zhang’s model explored the capabilities and benefits of nuclear-renewable HES in providing various energy products.
The work provides the most detailed analysis of optimizing nuclear-renewable HES to date. It can accommodate both reserve products – stored energy that can feed the grid as needed – and thermal products, such as heat for multiple buildings from a centralized source through underground insulated infrastructure.
“We have shown how the cross-coupled energy network can be studied simultaneously without compromising the system or plant characteristics,” said author Jie Zhang. “There are other great potentials to further explore the uses of small modular reactor based HES, such as industrial decarbonization in refineries, iron and steel manufacturing, chemical manufacturing, food and beverage manufacturing, and others.”
The model was able to determine both day-ahead and real-time market clearing prices. A case study it generated showed nuclear-renewable HES can contribute to the grid reserves and also meet the thermal load.
This boosts the systems’ economic efficiency, with projected revenue increases up to 35.25 percent compared to scenarios in which reserve and thermal power aren’t optimized.
The group next looks to study similar applications for reducing carbon emissions in the maritime industry.
Source: “Multi-timescale operations of nuclear-renewable hybrid energy systems for reserve and thermal product provision,” by Jubeyer Rahman and Jie Zhang, Journal of Renewable and Sustainable Energy (2023). The article can be accessed at https://doi.org/10.1063/5.0138648 .
This paper is part of the Hybrid Renewable Energy Systems Collection, learn more here .
