The aim of the project is to simulate a 100% renewable electricity market, with solar, wind, and storage technologies. The first simulation tool provides the optimal dispatch for every hour along a year of each renewable and storage technology to supply a demand curve, for instance, the Spanish demand. A detailed hourly mathematical model for operational cost minimization will be formulated and programmed. Results and sensitivities to operational parameters will be analyzed. The second simulation tool provides the optimal investment for each type of technology. A cost-minimization mathematical problem will be formulated and programmed. Results and sensitivities to the main parameters such as investment cost, capacity factors, round-trip efficiencies, and others will be analyzed. Finally, long-term and short-term marginal costs, i.e. market prices, obtained from the two previous models would be compared for the considered case study.
Luka Gams
