Integration of Renewable Energy Sources By Load Shifting and Utilizing Value Storage

The Integration of renewable energy resources suffers from two fundamental issues, variability, and uncertainty of their power output. These issues hinder the integration of renewable resources with the existing grid. This paper addresses these issues and proposes a new methodology to minimize the impact of intermittency by offering an alternative approach for energy storage. The concept of value storage is introduced as an alternative to energy storage to replace the typical large-scale battery energy storage system (BESS). The concept refers to the storage of excess renewable energy as products from industrial loads instead of the energy itself which enables a Demand Side Management (DSM) technique to be applied, namely, load shifting for some industrial plants. A hybrid Photovoltaic-wind turbine generator PV-WTG and storage system is proposed to penetrate the existing electric grid, with significant cost savings by displacing the conventional energy generation in a fossil fuel-rich location. A size optimization based on differential system cost is formulated and solved by an Enhanced Genetic Algorithm (EGA) technique. Uncertainty impact studies were done by incorporating multiple scenarios and comprehensive sensitivity analysis.