Title: Solar and wind energy portfolios and real-time pricing

Authors: Kathryn E. Hoepfl; Andrew Solocha; Alvin D. Compaan; Eldon Johnson

Addresses: Department of Physics and Astronomy, The University of Toledo, Toledo, OH 43606-3390, USA ' Department of Finance, The University of Toledo, Toledo, OH 43606-3390, USA ' Department of Physics and Astronomy, The University of Toledo, Toledo, OH 43606-3390, USA ' Department of Finance, Central Washington University, Ellensburg, WA 98926, USA

Abstract: This study develops a method to determine the least volatile combination of power output from wind and solar hybrid systems. Hourly data for wind and PV systems in Northwest Ohio are used to show that a combination of both is more stable and would have higher value to the grid than each individually. Value to the grid was established by correlating the real time output of solar, wind, or hybrid with 2009 hourly pricing data from the Midwest Interconnect. This method can be used to determine the ideal ratio in other parts of the country.

Keywords: wind energy; real-time pricing; market pricing; diversification; energy portfolios; volatile combinations; power outputs; hybrid systems; hourly data; photovoltaic systems; Ohio; USA; United States; electricity grids; power grids; grid value; real-time outputs; pricing data; Midwest Independent Transmission System Operator; MISO; high voltage transmission; technology; policy; management; solar energy; renewable energy.

DOI: 10.1504/IJTPM.2012.046928

International Journal of Technology, Policy and Management, 2012 Vol.12 No.2/3, pp.233 - 243

Published online: 31 Dec 2014 *

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