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The value of flexibility in the Finnish energy system

Project description

The growing share of variable renewable energies in the power system has placed a necessity on the system In this research, an open energy optimisation modeling approach will be used to find optimum ways to increase flexibility in the Finnish energy system and increase the efficiency of infrastructural investments in the energy sectors. The aim is to enable a higher utilisation rate of demand-side capacity for flexibility.

We examine the economic potentials of peak shaving and load shifting possibilities of demand response programs across all the energy demand sectors and at the same time, examine how utilisation of these programs can mitigate the environmental challenges caused by traditional flexibility sources. Thus, the vision of this research is to present a carbon-neutral energy system mix, capable of balancing environmental and economic factors in addition to lowering electricity prices. Our research hypothesis is that an increased share of wind and solar power will deliver lower average electricity prices in Finland, however, power system imbalances will be subject to higher prices in the future.

The project is innovative and will recommend valuable knowledge on how to improve the flexibility of the Finnish power system.

This project is performed as a doctoral research of Adeleye Adetunji.