A simple and fast algorithm for estimating the capacity credit of solar and storage
Energy storage is a leading option to enhance the resource adequacy contribution of solar energy. Detailed analysis of the capacity credit of solar energy and energy storage is limited in part due to the data intensive and computationally complex nature of probabilistic resource adequacy assessments. This paper presents a simple algorithm for calculating the capacity credit of energy-limited resources that, due to the low computational and data needs, is well suited to exploratory analysis. Validation against benchmarks based on probabilistic techniques shows that it can yield similar insights. The method is used to evaluate the impact of different solar and storage configurations, particularly with respect to the strategy for coupling storage and solar photovoltaic systems. Application of the method to a case study of utilities in Florida, where solar is rapidly growing and demand peaks in the winter and summer, demonstrates that it can improve on rules of thumb used in practice by some utilities. If storage is required to charge only from solar, periods of high demand driven by cold weather events accompanied by lower solar production can result in a capacity credit of solar and storage that is less than the capacity credit of storage alone.