Market bid optimization of a hybrid solar-wind system using CAES

The prominent limitation with solar or wind energy system is its intermittent nature. It is important to utilize these resources with proper storage devices. Nowadays, compressed air energy storage is the upcoming storage technology for large scale storage purposes. Whenever there is bidding for market, the generator has to ensure constant power availability. Taking into consideration the variability of the solar-wind energy generators, the optimization needs to be done for the charging and discharging of storage devices and provide a constant power output. In this paper, an optimization problem has been solved for a constant power output. A hybrid solar-wind energy system with CAES as storage has been considered and the utilization with solar and wind energy system has been maximized.