Analysis of storing wind energy for periods of seconds to hours in ERCOT
Wind energy has dramatically changed the energy portfolio of Texas and more specifically, a region covering 75% of the state designated as ERCOT (Electric Reliability Council of Texas). Hardly existent at all ten years ago, the amount of capacity the wind farms provide is over 9000MW and accounts for 10% of the total generation. Due to the intermittent nature of wind and limitations of transmission lines, short and long term storage of this energy would benefit wind farms and the grid as a whole. This paper studies the relationship between wind, storage and real time electricity prices by analyzing prices and simulating a wind farm with different wind storage strategies over the course of a year. Based on these simulations, it is found that an ideal storage medium with no losses could be in the money for $17.50/kW for long term storage and $1,998/kW for short term storage for prices similar to 2009-2010.