Simulation-based evaluation of revenue strategies for battery energy storage systems co-located with wind and solar in Germany
This thesis examines the economic viability of co-locating battery energy storage systems (BESS) with renewable energy assets – specifically onshore wind and solar photovoltaic (PV) power plants – in Germany. The analysis is driven by the increasing need for grid flexibility and the evolving regulat...
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| Tipo de documento: | dissertação |
| Data de publicação: | 2025 |
| País: | España |
| Recursos: | Universitat Politècnica de Catalunya (UPC) |
| Repositório: | UPCommons. Portal del coneixement obert de la UPC |
| Idioma: | inglês |
| OAI Identifier: | oai:upcommons.upc.edu:2117/443197 |
| Acesso em linha: | https://hdl.handle.net/2117/443197 |
| Access Level: | Acesso embargado |
| Palavra-chave: | Electric batteries Energy conservation Bateries elèctriques Energia--Estalvi Àrees temàtiques de la UPC::Energies::Energia solar fotovoltaica Àrees temàtiques de la UPC::Energies::Recursos energètics renovables |
| Resumo: | This thesis examines the economic viability of co-locating battery energy storage systems (BESS) with renewable energy assets – specifically onshore wind and solar photovoltaic (PV) power plants – in Germany. The analysis is driven by the increasing need for grid flexibility and the evolving regulatory framework under the German Renewable Energy Sources Act (EEG). Using a simulation-based economic model, the study evaluates multiple revenue strategies, combining EEG remuneration for power plants, merchant market participation for BESS, and the recently introduced “separation option” (Abgrenzungsoption), which allows BESS to charge from both the grid and renewable sources. The analysis is based on a comprehensive economic model that uses real-world cost structures, market forecasts, and policy frameworks. It compares stand-alone renewable assets with co-located configurations, assessing their financial performance through key indicators such as Net Present Value (NPV), Internal Rate of Return (IRR), and Hurdle rates based on Weighted Average Costs of Capital (WACC). Results show that co- location generally improves project economics: Wind with BESS and Solar PV with BESS configurations yield higher NPVs than their stand-alone counterparts, while the Solar with BESS scenario turns an otherwise unprofitable project into a marginally viable one. Sensitivity analyses further demonstrate the robustness of these findings. The study also highlights the cost-saving potential of shared infrastructure and reduced grid connection requirements, which can significantly enhance financial attractiveness of hybrid systems. In addition, the thesis explores the operational and economic implications of the EEG’s “separation option” which enables partial grid charging of BESS while maintaining eligibility for EEG remuneration. While technically feasible, the current regulatory framework does not yet provide sufficient financial incentives to justify its complexity. Dispatch modelling and logical analysis reveal that the separation option offers limited additional value under present market conditions, though future regulatory changes, such as dual remuneration during negative price periods, could enhance its attractiveness. The study also evaluates the impact of reduced grid connection capacity, finding that overbuilding generation assets relative to grid limits can be economically justified, particularly for solar PV, due to the alignment of generation profiles with low- price periods. These findings support the strategic integration of BESS in renewable projects and provide insights for developers in Germany’s dynamic energy market. |
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