scholarly journals Software Tools for Energy Storage Valuation and Design

2021 ◽  
Author(s):  
Tu A. Nguyen ◽  
Raymond H. Byrne
Keyword(s):  
Energy Storage ◽  
Storage Systems ◽  
System Simulation ◽  
Energy Systems ◽  
Software Tools ◽  
Economic Benefits ◽  
Design Tools ◽  
Power System Simulation ◽  
Analysis Tools ◽  
Analytical Tools

Abstract Purpose of Review As the application space for energy storage systems (ESS) grows, it is crucial to valuate the technical and economic benefits of ESS deployments. Since there are many analytical tools in this space, this paper provides a review of these tools to help the audience find the proper tools for their energy storage analyses. Recent Findings There are many software tools for valuating ESS. These tools can be classified into two groups: (1) power system simulation and planning tools for analyzing the technical contributions of ESSs, and (2) techno-economic analysis tools for valuating the economic benefits of ESS deployment and specifying the optimal design of energy systems that include ESSs. While many of the tools, developed by the national laboratories, are free to use, the commercial tools are also of great importance in meeting the customers’ specific needs. Summary This paper provides a review of software tools for ESS valuation and design. A review of analysis tools for evaluating the technical impacts of energy storage deployments is also provided, as well as a discussion of development trends for valuation and design tools.

scholarly journals A CVaR-Robust Risk Aversion Scheduling Model for Virtual Power Plants Connected with Wind-Photovoltaic-Hydropower-Energy Storage Systems, Conventional Gas Turbines and Incentive-Based Demand Responses

Energies ◽  
2018 ◽  
Vol 11 (11) ◽  
pp. 2903 ◽  
Author(s):  
Liwei Ju ◽  
Peng Li ◽  
Qinliang Tan ◽  
Zhongfu Tan ◽  
GejiriFu De
Keyword(s):  
Energy Storage ◽  
Risk Aversion ◽  
Decision Maker ◽  
Gas Turbines ◽  
Power Plants ◽  
Storage Systems ◽  
Economic Benefits ◽  
Virtual Power ◽  
Energy Storage Systems ◽  
Scheduling Model

To make full use of distributed energy resources to meet load demand, this study aggregated wind power plants (WPPs), photovoltaic power generation (PV), small hydropower stations (SHSs), energy storage systems (ESSs), conventional gas turbines (CGTs) and incentive-based demand responses (IBDRs) into a virtual power plant (VPP) with price-based demand response (PBDR). Firstly, a basic scheduling model for the VPP was proposed in this study with the objective of the maximum operation revenue. Secondly, a risk aversion model for the VPP was constructed based on the conditional value at risk (CVaR) method and robust optimization theory considering the operating risk from WPP and PV. Thirdly, a solution methodology was constructed and three cases were considered for comparative analyses. Finally, an independent micro-grid on an industrial park in East China was utilized for an example analysis. The results show the following: (1) the proposed risk aversion scheduling model could cope with the uncertainty risk via a reasonable confidence degree β and robust coefficient Γ. When Γ ≤ 0.85 or Γ ≥ 0.95, a small uncertainty brought great risk, indicating that the risk attitude of the decision maker will affect the scheduling scheme of the VPP, and the decision maker belongs to the risk extreme aversion type. When Γ ∈ (0.85, 0.95), the decision-making scheme was in a stable state, the growth of β lead to the increase of CVaR, but the magnitude was not large. When the prediction error e was higher, the value of CVaR increased more when Γ increased by the same magnitude, which indicates that a lower prediction accuracy will amplify the uncertainty risk. (2) when the capacity ratio of (WPP, PV): ESS was higher than 1.5:1 and the peak-to-valley price gap was higher than 3:1, the values of revenue, VaR, and CVaR changed slower, indicating that both ESS and PBDR can improve the operating revenue, but the capacity scale of ESS and the peak-valley price gap need to be set properly, considering both economic benefits and operating risks. Therefore, the proposed risk aversion model could maximize the utilization of clean energy to obtain higher economic benefits while rationally controlling risks and provide reliable decision support for developing optimal operation plans for the VPP.

Smart Grids and Hybrid Energy Storage Systems

2022 ◽  
pp. 779-804
Author(s):  
Muhammad Asif Rabbani
Keyword(s):  
Renewable Energy ◽  
Energy Storage ◽  
Smart Grid ◽  
Storage Systems ◽  
Control Strategies ◽  
Energy Systems ◽  
Energy Storage Systems ◽  
Renewable Energy Systems ◽  
Hybrid Energy ◽  
Hybrid Energy Storage

It is very important that the installed renewable energy system should produce the maximum power outputs with minimum costs, and that can only be achieved with the selection of the best optimization technique applied for the best control strategies along with the introduction of the hybrid energy storage systems (HESS). This chapter presents some optimization techniques applied in control strategies for hybrid energy storage systems in distributed renewable energy systems. The integration of energy production and consumption component through the smart grid concept enables increased demand response and energy efficiency. Hybrid energy storage systems and their applications in the renewable energy systems are extensively discussed besides control strategies involved. The storages systems will play an important role in future related to smart grid.

scholarly journals Optimal Configuration of Multi-type Energy Storage for Integrated Energy System Considering Multi-energy Trading With Load Substitution

2021 ◽  
Vol 237 ◽  
pp. 02016
Author(s):  
Jun Wang ◽  
Wei Du ◽  
Dongmei Yang ◽  
Guoxin He ◽  
Xiaochen Zhang
Keyword(s):  
Energy Storage ◽  
Energy Systems ◽  
Energy System ◽  
Economic Benefits ◽  
Optimal Configuration ◽  
Configuration Model ◽  
Energy Trading ◽  
Integrated Energy Systems ◽  
Integrated Energy System ◽  
The Impact

How to consider the impact of load substitution on user-side participating in multi-energy trading on system operation when configuring multi-type energy storage (MES) is an urgent problem that needs to be solved to improve the economics and energy efficiency of the integrated energy systems (IES). This paper presents an optimal configuration method of MES considering multi-energy trading with load substitution based on the characteristics of different energy supply seasons. Firstly, the multi-energy trading framework and MES configuration principle are proposed based on the structure of the IES. Secondly, a MES optimal configuration model for IES considering multi-energy trading with load substitution is established, then the IES trading strategies and MES planning schemes are solved. Finally, the proposed method is verified by an example. The results show that the proposed method reduces the MES configuration cost by 8.9%. It can be seen that the MES configuration method proposed in this paper is helpful to repair the limitations of energy storage configuration research in IES and improve the economic benefits of the system.

Smart Grids and Hybrid Energy Storage Systems

2021 ◽  
pp. 170-195
Author(s):  
Muhammad Asif Rabbani
Keyword(s):  
Renewable Energy ◽  
Energy Storage ◽  
Smart Grid ◽  
Storage Systems ◽  
Control Strategies ◽  
Energy Systems ◽  
Energy Storage Systems ◽  
Renewable Energy Systems ◽  
Hybrid Energy ◽  
Hybrid Energy Storage

It is very important that the installed renewable energy system should produce the maximum power outputs with minimum costs, and that can only be achieved with the selection of the best optimization technique applied for the best control strategies along with the introduction of the hybrid energy storage systems (HESS). This chapter presents some optimization techniques applied in control strategies for hybrid energy storage systems in distributed renewable energy systems. The integration of energy production and consumption component through the smart grid concept enables increased demand response and energy efficiency. Hybrid energy storage systems and their applications in the renewable energy systems are extensively discussed besides control strategies involved. The storages systems will play an important role in future related to smart grid.

scholarly journals Optimal Siting and Sizing of Wayside Energy Storage Systems in a D.C. Railway Line

Energies ◽  
2020 ◽  
Vol 13 (23) ◽  
pp. 6271
Author(s):  
Regina Lamedica ◽  
Alessandro Ruvio ◽  
Laura Palagi ◽  
Nicola Mortelliti
Keyword(s):  
Energy Storage ◽  
High Performance ◽  
Net Present Value ◽  
Storage Systems ◽  
Storage System ◽  
Economic Benefits ◽  
Particle Swarm Algorithm ◽  
Railway Network ◽  
Economic Point ◽  
Railway Line

The paper proposes an optimal siting and sizing methodology to design an energy storage system (ESS) for railway lines. The scope is to maximize the economic benefits. The problem of the optimal siting and sizing of an ESS is addressed and solved by a software developed by the authors using the particle swarm algorithm, whose objective function is based on the net present value (NPV). The railway line, using a standard working day timetable, has been simulated in order to estimate the power flow between the trains finding the siting and sizing of electrical substations and storage systems suitable for the railway network. Numerical simulations have been performed to test the methodology by assuming a new-generation of high-performance trains on a 3 kV direct current (d.c.) railway line. The solution found represents the best choice from an economic point of view and which allows less energy to be taken from the primary network.

scholarly journals Assessing the Benefits of Battery Energy Storage Systems for Frequency Regulation, Based on Electricity Market Price Forecasting

2019 ◽  
Vol 9 (10) ◽  
pp. 2147
Author(s):  
Eunjung Lee ◽  
Jinho Kim
Keyword(s):  
Energy Storage ◽  
Power System ◽  
Electricity Market ◽  
Storage Systems ◽  
Supply And Demand ◽  
Market Price ◽  
Economic Benefits ◽  
Frequency Regulation ◽  
Frequency Variation ◽  
Energy Storage Systems

In electricity markets, energy storage systems (ESSs) have been widely used to regulate frequency in power system operations. Frequency regulation (F/R) relates to the short-term reserve power used to balance the real-time mismatch of supply and demand. Every alternating current power system has its own unique standard frequency level, and frequency variation occurs whenever there is a mismatch of supply and demand. To cope with frequency variation, generating units—particularly base-loader generators—reduce their power outputs to a certain level, and the reduced generation outputs are used as a generation reserve whenever frequency variation occurs in the power systems. ESSs have recently been implemented as an innovative means of providing the F/R reserve previously provided by base-loader generators, because they are much faster in responding to frequency variation than conventional generators. We assess the economic benefits of ESSs for F/R, based on a new forecast of long-term electricity market price and real power system operation characteristics. For this purpose, we present case studies with respect to the South Korean electricity market as well as simulation results featuring key variables, along with their implications vis-à-vis electricity market operations.

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