Application of dynamic programming to the optimal management of a hybrid power plant with wind turbines, photovoltaic panels and compressed air energy storage

A model for thermo-economic analysis and optimization of a hybrid power plant consisting of compressed air energy storage (CAES) coupled with a wind farm and a photovoltaic plant is presented. This kind of plant is aiming to overcome some of the major limitations of renewable energy sources, represented by their low power density and intermittent nature, largely depending upon local site and unpredictable weather conditions.

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