Economic dispatch and optimal sizing of battery energy storage systems in utility load-leveling operations

1999 ◽  
Vol 14 (3) ◽  
pp. 824-829 ◽  
Author(s):  
C.H. Lo ◽  
M.D. Anderson
Keyword(s):  
Energy Storage ◽  
Storage Systems ◽  
Economic Dispatch ◽  
Energy Storage Systems ◽  
Battery Energy Storage ◽  
Optimal Sizing ◽  
Battery Energy Storage Systems ◽  
Load Leveling ◽  
Battery Energy

Optimal Sizing and Control of Battery Energy Storage Systems for Hybrid Turboelectric Aircraft

2020 ◽  
Author(s):  
Aaronn Sergent ◽  
Michael Ramunno ◽  
Matilde D'Arpino ◽  
Marcello Canova ◽  
Christopher Perullo
Keyword(s):  
Energy Storage ◽  
Storage Systems ◽  
Energy Storage Systems ◽  
Battery Energy Storage ◽  
Optimal Sizing ◽  
Battery Energy Storage Systems ◽  
Battery Energy ◽  
And Control

scholarly journals An Economic Analysis of Load Leveling with Battery Energy Storage Systems (BESS) in an Electricity Market Environment: The Korean Case

Energies ◽  
2019 ◽  
Vol 12 (9) ◽  
pp. 1608 ◽  
Author(s):  
Hyung Tae Kim ◽  
Young Gyu Jin ◽  
Yong Tae Yoon
Keyword(s):  
Energy Storage ◽  
Economic Analysis ◽  
Electricity Market ◽  
Storage Systems ◽  
Energy Storage Systems ◽  
Electricity Prices ◽  
Battery Energy Storage ◽  
Battery Energy Storage Systems ◽  
Load Leveling ◽  
Battery Energy

The capacity of battery energy storage systems (BESS) is expected to increase for power system applications. However, as the cost of BESS is high, economic feasibility must be considered when using BESS in grid applications. Load leveling with BESS is one such application for which the economic implications have been analyzed in the literature. However, these studies do not sufficiently consider the fact that the leveled loads will lead to a change in electricity prices, thereby modifying charging/discharging operations of BESS. Additionally, in a competitive electricity market, electricity prices are not determined by the generator cost functions. Market participants’ strategic decisions also affect prices. Therefore, we conducted an economic analysis of load leveling with BESS in an electricity market from the perspective of a utility company and/or a government agency. In our analysis of the Korean market, we examine whether the leveled loads necessarily lead to economic benefits. Load leveling performance and the associated economic benefit are quantitatively analyzed for varying sizes of BESS. Further, the policy implications related to using BESS are derived from the analysis results.

scholarly journals Optimal Sizing of Battery Energy Storage Systems Considering Cooperative Operation with Microgrid Components

Energies ◽  
2021 ◽  
Vol 14 (21) ◽  
pp. 7442
Author(s):  
Hirotaka Takano ◽  
Ryosuke Hayashi ◽  
Hiroshi Asano ◽  
Tadahiro Goda
Keyword(s):  
Energy Storage ◽  
Solution Method ◽  
Storage Systems ◽  
Optimal Size ◽  
Energy Storage Systems ◽  
Battery Energy Storage ◽  
Optimal Sizing ◽  
Battery Energy Storage Systems ◽  
Battery Energy ◽  
Combined Algorithm

Battery energy storage systems (BESSs) are key components in efficiently managing the electric power supply and demand in microgrids. However, the BESSs have issues in their investment costs and operating lifetime, and thus, the optimal sizing of the BESSs is one of the crucial requirements in design and management of the microgrids. This paper presents a problem framework and its solution method that calculates the optimal size of the BESSs in a microgrid, considering their cooperative operations with the other components. The proposed framework is formulated as a bi-level optimization problem; however, based on the Karush–Kuhn–Tucker approach, it is regarded as a type of operation scheduling problem. As a result, the techniques developed for determining the operation schedule become applicable. In this paper, a combined algorithm of binary particle swarm optimization and quadratic programming is selected as the basis of the solution method. The validity of the authors’ proposal is verified through numerical simulations and discussion of their results.

Sign in / Sign up

Export Citation Format

Share Document