battery storage – Optimization Online

Measuring the Economic Value of Wind–Solar Complementarity in Europe Using Chance Constraints

Published: 2025/09/23

Energy, Stochastic Programming battery storage, Chance‐constrained optimization, European electricity markets, Renewable energy integration, Wind-solar complementarity

The variability of wind and solar photovoltaic (PV) generation poses significant risks for producers in day-ahead electricity markets, where commitments must be made before actual output is realized. A common mitigation strategy is to invest in storage, but an alternative is to exploit the natural complementarity between wind and solar resources. We evaluate this economic … Read more

Lagrangian relaxation based heuristics for a chance-constrained optimization model of a hybrid solar-battery storage system

Published: 2019/05/22, Updated: 2024/11/19

Bismark Singh

Bernard Knueven

Energy, Stochastic Programming battery storage, chance constraints, lagrangian decomposition, out of sample validation, photovoltaic power station, progressive hedging, solar power, stochastic optimization, virtual power plant

Published in Journal of Global Optimization. https://doi.org/10.1007/s10898-021-01041-y We develop a stochastic optimization model for scheduling a hybrid solar-battery storage system. Solar power in excess of the promise can be used to charge the battery, while power short of the promise is met by discharging the battery. We ensure reliable operations by using a joint chance … Read more