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To advance carbon neutrality policies, many countries are increasingly integrating Renewable Energy Sources (RESs) into their energy mix. However, for harnessing natural energy in power generation, RESs present challenges in output control, potentially leading to power imbalances. Such imbalances, when coupled with an excessive reliance on unpredictable RES, may necessitate the curtailment of grid-integrated renewable generation, halting production despite available capacity. This paper proposes strategies to mitigate the economic and operational efficiency impacts of increased RESs on the power grid. It focuses on the optimal operation of Battery Energy Storage Systems (BESSs) and Power to Gas (P2G) technology, which flexibly converts surplus electricity into hydrogen. By employing Mixed Integer Linear Programming (MILP) for optimization and Stochastic Programming (SP) for the management of the uncertainty of renewable energy output, this paper evaluates the anticipated benefits of BESS and P2G applications. [ABSTRACT FROM AUTHOR]

The use of renewable energy sources to achieve carbon neutrality is increasing. However, the uncertainty and volatility of renewable resources are causing problems in power systems. Flexible and low-carbon resources such as Energy Storage Systems (ESSs) are essential for solving the problems of power systems and achieving greenhouse gas reduction goals. However, ESSs are not being installed because of Korea's fuel-based electricity market. To address this issue, this paper presents a method for determining the optimal investment timing of Battery Energy Storage Systems (BESSs) using the Least Squares Monte Carlo (LSMC) method. A case study is conducted considering the System Marginal Price (SMP) and Capacity Payment (CP), which are electricity rates in Korea. Revenue is calculated through the arbitrage of a 10 MW/40 MWh lithium-ion BESS, and linear programming optimization is performed for ESS scheduling to maximize revenue. The ESS revenue with uncertainty is modeled as a stochastic process using Geometric Brownian Motion (GBM), and the optimal time to invest in an ESS is determined using an LSMC simulation considering investment costs. The proposed method can be used as a decision-making tool for ESS investors to provide information on facility investments in arbitrage situations. [ABSTRACT FROM AUTHOR]

To avoid the potential adverse impacts of climate change from global warming, it is suggested that the target of net zero emissions should be reached by this mid-century. Thailand is aiming to achieve carbon neutrality by 2050. Since electricity generation is one of the largest producers of carbon dioxide emission, the associated emissions must be greatly reduced to achieve the targets mentioned above. Thus, new generation expansion plans must be well developed. This paper discusses the development of generation expansion plans considering Thailand's latest policies along with enhancement of the existing multi-period linear programming model, allowing new electricity generation technologies having low emissions, e.g., solar PV with battery and hydrogen blending in natural gas, to be integrated into generation expansion planning. Then, four generation expansion plans with different levels of hydrogen blending in natural gas are proposed and discussed. It is found that Thailand can achieve carbon neutrality by 2050 by promoting more use of renewable energy altogether with trade-off between land for solar PV installation and amount of hydrogen blended in natural gas. The lesson learned from this study provides crucial information about possible pathways to achieve carbon neutrality in the electricity sector for policy makers in other countries. [ABSTRACT FROM AUTHOR]