Economic evaluation of demand-side energy storage systems by using a multi-agent-based electricity market

2009 ◽  
Vol 167 (3) ◽  
pp. 36-45 ◽  
Author(s):  
Ken Furusawa ◽  
Hideharu Sugihara ◽  
Kiichiro Tsuji
Keyword(s):  
Economic Evaluation ◽  
Energy Storage ◽  
Electricity Market ◽  
Storage Systems ◽  
Demand Side ◽  
Energy Storage Systems ◽  
Agent Based ◽  
Multi Agent

Designing the Electricity Market with Energy Storage Devices

2020 ◽  
Vol 12 (12) ◽  
pp. 31-43
Author(s):  
Tatiana A. VASKOVSKAYA ◽  
◽  
Boris A. KLUS ◽  
Keyword(s):  
Energy Storage ◽  
Electricity Market ◽  
Power Flow ◽  
Optimal Power Flow ◽  
Storage Systems ◽  
Energy System ◽  
Energy Storage Systems ◽  
Storage Model ◽  
Optimal Power ◽  
Wide Range

The development of energy storage systems allows us to consider their usage for load profile leveling during operational planning on electricity markets. The paper proposes and analyses an application of an energy storage model to the electricity market in Russia with the focus on the day ahead market. We consider bidding, energy storage constraints for an optimal power flow problem, and locational marginal pricing. We show that the largest effect for the market and for the energy storage system would be gained by integration of the energy storage model into the market’s optimization models. The proposed theory has been tested on the optimal power flow model of the day ahead market in Russia of 10000-node Unified Energy System. It is shown that energy storage systems are in demand with a wide range of efficiencies and cycle costs.

Life-Cycle Economic Evaluation of Batteries for Electeochemical Energy Storage Systems

2021 ◽  
Author(s):  
Donghao Zhang ◽  
Xiangyu Cai ◽  
Chunyan Song ◽  
Jie Liu ◽  
Jia Ding ◽  
...  
Keyword(s):  
Life Cycle ◽  
Economic Evaluation ◽  
Energy Storage ◽  
Storage Systems ◽  
Energy Storage Systems

scholarly journals Techno-Economic Evaluation of Energy Storage Systems Built from EV Batteries – Prospective Revenues in Different Stationary Applications

2018 ◽  
Vol 64 ◽  
pp. 03003 ◽  
Author(s):  
Nguyen Tam Thanh ◽  
Naumann Maik ◽  
Truong Cong Nam ◽  
Jossen Andreas
Keyword(s):  
Economic Evaluation ◽  
Energy Storage ◽  
Electric Vehicle ◽  
Second Life ◽  
Storage Systems ◽  
Frequency Regulation ◽  
Energy Storage Systems ◽  
Combined Operation ◽  
Operating Strategies ◽  
Battery Energy

Battery energy storage systems (BESSs) are already being deployed for several stationary applications in a technically and economically feasible way. This paper focuses on the revenues of industrial BESSs built from electric vehicle lithiumion batteries with varying states of health. For this analysis, a stationary BESS simulation model is used, that is parameterised with parameters of a 22-kWh automotive battery. The comprehensive model consists of several detailed sub-models, considering battery characteristics, ageing and operating strategies, which allow technical assessment through time series simulation. Therefore, capacity fade and energy losses are considered in this techno-economic evaluation. Potential economically feasible applications of new and second-life batteries, such as photovoltaic home storage, intraday trading and frequency regulation as well as their combined operation are compared. The investigation includes different electricity price scenarios. The combined operation, followed by frequency regulation, is found to have the highest economic viability for the specified electric vehicle battery.

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.

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