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@ARTICLE{Fleer:845124,
      author       = {Fleer, Johannes and Zurmühlen, Sebastian and Meyer, Jonas
                      and Badeda, Julia and Stenzel, Peter and Hake, Jürgen-Fr.
                      and Sauer, Dirk Uwe},
      title        = {{T}echno-economic evaluation of battery energy storage
                      systems on the primary control reserve market under
                      consideration of price trends and bidding strategies},
      journal      = {Journal of energy storage},
      volume       = {17},
      issn         = {2352-152X},
      address      = {Amsterdam [u.a.]},
      publisher    = {Elsevier},
      reportid     = {FZJ-2018-02443},
      pages        = {345 - 356},
      year         = {2018},
      abstract     = {With declining prices on the German primary control reserve
                      (PCR) market and simultaneously decreasing battery cell and
                      system prices, it is unclear whether an investment in a
                      battery energy storage system (BESS) providing PCR will be
                      profitable. In order to address this issue, we outline
                      different bidding strategies for PCR auctions and analyze
                      their impact on revenues and battery aging. Furthermore,
                      following a net present value (NPV) approach, we investigate
                      how the development of PCR prices and battery system prices
                      affects the attractiveness of BESS providing PCR.The results
                      show that the bidding strategies developed in this paper
                      allow for reasonable revenues from PCR provision. A higher
                      willingness of the bidder to take risks is not rewarded with
                      higher revenues in the scenario presented in this paper.
                      Furthermore, the impact of the choice of the bidding
                      strategy on battery aging seems negligible. However, the
                      development of PCR market prices and battery system prices
                      is crucial for the attractiveness of BESS providing PCR.
                      Investments come with a high risk due to the volatility of
                      PCR market prices and the uncertainty of future battery
                      system prices. A strong drop in PCR prices would make
                      investments unattractive, even in the case of an optimistic
                      estimate of the BESS price development. However, if PCR
                      prices decrease moderately, an investment in a BESS
                      providing PCR lead to a positive NPV over the system
                      lifetime under the assumptions made in this study.},
      cin          = {IEK-STE / IEK-3},
      ddc          = {333.7},
      cid          = {I:(DE-Juel1)IEK-STE-20101013 / I:(DE-Juel1)IEK-3-20101013},
      pnm          = {153 - Assessment of Energy Systems – Addressing Issues of
                      Energy Efficiency and Energy Security (POF3-153) / 134 -
                      Electrolysis and Hydrogen (POF3-134)},
      pid          = {G:(DE-HGF)POF3-153 / G:(DE-HGF)POF3-134},
      typ          = {PUB:(DE-HGF)16},
      UT           = {WOS:000432692900032},
      doi          = {10.1016/j.est.2018.03.008},
      url          = {https://juser.fz-juelich.de/record/845124},
}