A study of economic evaluation of demand-side energy storage system in consideration of market clearing price

2006 ◽  
Vol 158 (1) ◽  
pp. 22-35 ◽  
Author(s):  
Ken Furusawa ◽  
Hideharu Sugihara ◽  
Kiichiro Tsuji ◽  
Yasunori Mitani
Keyword(s):  
Economic Evaluation ◽  
Energy Storage ◽  
Storage System ◽  
Energy Storage System ◽  
Demand Side ◽  
Market Clearing ◽  
Market Clearing Price

scholarly journals Feasibility Analysis of Behind-the-Meter Energy Storage System According to Public Policy on an Electricity Charge Discount Program

2019 ◽  
Vol 11 (1) ◽  
pp. 186 ◽  
Author(s):  
Byuk-Keun Jo ◽  
Seungmin Jung ◽  
Gilsoo Jang
Keyword(s):  
Energy Storage ◽  
Storage Systems ◽  
Storage System ◽  
Participation Rate ◽  
Energy Storage System ◽  
Economic Feasibility ◽  
Demand Side ◽  
Energy Storage Systems ◽  
Study Results ◽  
The Impact

Energy storage systems are crucial in dealing with challenges from the high-level penetration of renewable energy, which has inherently intermittent characteristics. For this reason, various incentive schemes improving the economic profitability of energy storage systems are underway in many countries with an aim to expand the participation rate. The electricity charge discount program, which was introduced in 2015 in Korea, is one of the policies meant to support the economic feasibility of demand-side energy storage systems. This paper quantitatively evaluated the impact of the electricity charge discount program on the economic feasibility of behind-the-meter energy storage systems. In this work, we first summarized how electricity customers can benefit from behind-the-meter energy storage systems. In addition, we represented details of the structure that make up the electricity charge discount program, i.e., how the electricity charge is discounted through the discount scheme. An optimization problem that establishes a charge and discharge schedule of an energy storage system to minimize each consumer’s electricity expenditure was defined and formulated as well. The case study results indicated that the electricity charge discount program has improved the profitability of behind-the-meter energy storage systems, and this improved profitability led to investment in behind-the-meter energy storage systems in Korea. As a result of the electricity charge discount program, Korea’s domestic demand side energy storage system market size, which was only 27 billion dollars in 2015 in Korea, has grown to 825 billion dollars in 2018.

scholarly journals Return of Interest Planning for Photovoltaics Connected with Energy Storage System by Considering Maximum Power Demand

2020 ◽  
Vol 10 (3) ◽  
pp. 786
Author(s):  
Sung-Soo Kim ◽  
Wonbin Lee ◽  
Byeong Gwan Bhang ◽  
Jin Ho Choi ◽  
Sang Hun Lee ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Economic Evaluation ◽  
Energy Storage ◽  
Storage System ◽  
Energy Storage System ◽  
Maximum Power ◽  
Photovoltaic System ◽  
Medium Size ◽  
Power Demand ◽  
The Cost

In this study, a general building of medium size with an Energy Storage Systems (ESS)-connected Photovoltaic (PV) system (energy storage system that is connected to a photovoltaic system) was chosen to develop a tool for a better economic evaluation of its installation and use. The newly obtained results, from the revised economic evaluation algorithm that was proposed in this study, showed the effective return of investment period (ROI) would be 8.62 to 12.77 years. The ratio of maximum power demand to contract demand and the falling cost of PVs and ESS was the factors that could affect the ROI. While using the cost scenario of PVs and ESS from 2019 to 2024, as estimated by the experts, the ROI was significantly improved. The ROI was estimated to be between 4.26 to 8.56 years by the year 2024 when the cost scenario was considered. However, this result is obtained by controlling the ratio of maximum power demand to contract demand. Continued favorable government policies concerning renewable energy would be crucial in expanding the supply and investment in renewable energy resources, until the required ROI is attained.

Optimized configuration and economic evaluation of on-board energy storage system for subway vehicles

2020 ◽  
Author(s):  
Jianpu Wang ◽  
Chenglong Ren ◽  
Sufang Zhao ◽  
Liqing Nie ◽  
Yu Zhuang ◽  
...  
Keyword(s):  
Economic Evaluation ◽  
Energy Storage ◽  
Storage System ◽  
Energy Storage System
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