scholarly journals MAXIMIZING THE PROFITS OF BATTERY ENERGY STORAGE SYSTEMS IN THE INTEGRATED SINGLE ELECTRICITY MARKET

2021 ◽  
Author(s):  
A. A. Raouf Mohamed ◽  
D. John Morrow ◽  
R. J Best
Keyword(s):  
Energy Storage ◽  
Electricity Market ◽  
Storage Systems ◽  
Energy Storage Systems ◽  
Battery Energy Storage ◽  
Battery Energy Storage Systems ◽  
Battery Energy

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 Economic Analysis of the Investments in Battery Energy Storage Systems: Review and Current Perspectives

Energies ◽  
2021 ◽  
Vol 14 (9) ◽  
pp. 2503
Author(s):  
Paulo Rotella Junior ◽  
Luiz Célio Souza Rocha ◽  
Sandra Naomi Morioka ◽  
Ivan Bolis ◽  
Gianfranco Chicco ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Energy Storage ◽  
Economic Analysis ◽  
Storage Systems ◽  
Renewable Energy Sources ◽  
Residential Areas ◽  
Energy Storage Systems ◽  
Battery Energy Storage ◽  
Battery Energy Storage Systems ◽  
Battery Energy

Sources such as solar and wind energy are intermittent, and this is seen as a barrier to their wide utilization. The increasing grid integration of intermittent renewable energy sources generation significantly changes the scenario of distribution grid operations. Such operational challenges are minimized by the incorporation of the energy storage system, which plays an important role in improving the stability and the reliability of the grid. This study provides the review of the state-of-the-art in the literature on the economic analysis of battery energy storage systems. The paper makes evident the growing interest of batteries as energy storage systems to improve techno-economic viability of renewable energy systems; provides a comprehensive overview of key methodological possibilities for researchers interested in economic analysis of battery energy storage systems; indicates the need to use adequate economic indicators for investment decisions; and identifies key research topics of the analyzed literature: (i) photovoltaic systems with battery energy storage systems for residential areas, (ii) comparison between energy storage technologies, (iii) power quality improvement. The last key contribution is the proposed research agenda.

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