Optimizing Hybrid Power Plants for Revenue Growth

This report presents a study on optimizing hybrid power plants to enhance revenue growth and grid efficiency through multi-market participation. It outlines the importance of renewable energy in transforming Europe's energy sector towards self-sufficiency and climate neutrality. The Netherlands aims for significant CO2 emission reductions and plans to install substantial offshore wind capacity. The study highlights the potential of combining offshore wind and solar energy to address seasonal intermittency and optimize infrastructure use. A revenue-stacking tool developed by TNO is detailed, demonstrating how hybrid power plants can participate in multiple electricity markets, leading to increased predictability and flexibility in production profiles. A case study is included, showcasing a MW-scale hybrid power plant with various energy sources and technologies. The results indicate that such hybrid systems can significantly boost revenues and reduce grid connection utilization. Recommendations for future research are provided, emphasizing the need for larger-scale studies and broader market participation.