Optimizing Multi-Market Participation of Battery and Electrolyser Systems Based on Field Performance
2026-08-17 • Machine Learning
Machine Learning
AI summaryⓘ
The authors studied how renewable energy systems like batteries and electrolysers can earn money by providing different services in electricity markets. They included real-life factors like how quickly the devices can adjust and their efficiency, which are often ignored in other studies. Using real market data from Denmark, they showed how these devices can maximize profits by participating in multiple markets over several years. Their results emphasize the need to use experimental data to better understand the business potential of these flexible energy technologies.
Power-to-XBattery Energy Storage SystemElectrolyserAncillary ServicesElectricity MarketsRamp LimitsEfficiencySetpoint TrackingOptimizationRenewable Energy Flexibility
Authors
Chunyang Zhao, Stoyan Trenchev, Shi You, Chresten Træholt
Abstract
The increasing share of renewable energy in power systems creates a need for fast-response and flexible resources to maintain system stability. With the expansion of electricity markets and ancillary service products, opportunities arise to stack revenues across multiple services. Long-term Power-to-X (PTX) electrolysers and short-term battery energy storage systems (BESS) are prevalent flexible resources, yet most studies neglect real hardware behavior, such as ramp limits, efficiency, and setpoint-tracking accuracy. This work presents experimental and modeling results for a 55 kW/79 kWh BESS and an electrolyser comprising three 2.4 kW units. Key characteristics are identified through measurements and embedded into a price-driven optimization framework for participation in the Danish electricity and ancillary service markets, utilizing real market data from 2022 to 2025. The optimized daily profits for multi-market participation are 1,749.27 DKK and 289.46 DKK for the BESS and electrolyser, respectively. With the demonstrated business cases for BESS and PTX systems, this work highlights the importance of incorporating experimental performance when evaluating participation across multiple markets and years.