Including management policies in a renewable energy system simulation model

In recent years, growing attention has been paid to the use of renewable resources to produce electricity. One of the main drawbacks of generating electricity through, say, wind power, however, is random input, which obviously results in random output. This means that peak output does not always coincide with peak demand. Nevertheless, demand drives prices, making output regulation essential. Thus, improvements in energy management, aimed at satisfying demand and increasing profits, need to include output regulation mechanisms. This calls for the introduction of newly-developed energy storage equipment. This paper develops a simulation model incorporating both hydrogen-based energy storage equipment and various system-management strategies.