ValueFlex – the value of flexibility: Pre-project under Open Calls in FME HydroCen

Abstract

The ValueFlex pre-project has collected and summarized current research provided by the HydroCen research partners on the topic of valuation of flexibility from hydropower. We found that existing knowledge from the technology (turbine, generator and structures) and environmental perspective were fragmented and did not address the value of flexibility directly. More insight on the topic of valuation of flexibility was found in the field of optimal production scheduling and energy system modelling. This was expected since this angle typically constitute the use of modelling and optimization to analyse trends and development of the energy and power system, price formation and optimal operations. In total, we found no holistic approach that covered the value of flexibility from an integrated perspective including the value of components, construction, market and services and environmental and social concerns. We did find, however, that there is a lot of work in HydroCen that gives individual pieces of knowledge that together will advance the understanding of the value of flexible hydropower. The pre-project has thus proposed an Open Calls proposal that will give the first steps in putting these pieces into a common framework. In addition, HydroCen has established an interdisciplinary group that will focus on the value of flexible hydropower, that will serve as a discussion group to generate new activities on the topic.