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.

scholarly journals Sizing and Allocation of Battery Energy Storage Systems in Åland Islands for Large-Scale Integration of Renewables and Electric Ferry Charging Stations

Energies ◽  
2020 ◽  
Vol 13 (2) ◽  
pp. 317 ◽  
Author(s):  
Jagdesh Kumar ◽  
Chethan Parthasarathy ◽  
Mikko Västi ◽  
Hannu Laaksonen ◽  
Miadreza Shafie-Khah ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Energy Storage ◽  
Storage Systems ◽  
Renewable Energy Sources ◽  
Energy Sources ◽  
Energy Storage Systems ◽  
Battery Energy Storage ◽  
Battery Energy Storage Systems ◽  
Battery Energy ◽  
Charging Stations

The stringent emission rules set by international maritime organisation and European Directives force ships and harbours to constrain their environmental pollution within certain targets and enable them to employ renewable energy sources. To this end, harbour grids are shifting towards renewable energy sources to cope with the growing demand for an onshore power supply and battery-charging stations for modern ships. However, it is necessary to accurately size and locate battery energy storage systems for any operational harbour grid to compensate the fluctuating power supply from renewable energy sources as well as meet the predicted maximum load demand without expanding the power capacities of transmission lines. In this paper, the equivalent circuit battery model of nickel–cobalt–manganese-oxide chemistry has been utilised for the sizing of a lithium-ion battery energy storage system, considering all the parameters affecting its performance. A battery cell model has been developed in the Matlab/Simulink platform, and subsequently an algorithm has been developed for the design of an appropriate size of lithium-ion battery energy storage systems. The developed algorithm has been applied by considering real data of a harbour grid in the Åland Islands, and the simulation results validate that the sizes and locations of battery energy storage systems are accurate enough for the harbour grid in the Åland Islands to meet the predicted maximum load demand of multiple new electric ferry charging stations for the years 2022 and 2030. Moreover, integrating battery energy storage systems with renewables helps to increase the reliability and defer capital cost investments of upgrading the ratings of transmission lines and other electrical equipment in the Åland Islands grid.

scholarly journals Design of Combined Stationary and Mobile Battery Energy Storage Systems

2021 ◽  
Author(s):  
Hassan Hayajneh ◽  
Xuewei Zhang
Keyword(s):  
Renewable Energy ◽  
Energy Storage ◽  
Storage Systems ◽  
Design Parameters ◽  
Frequency Regulation ◽  
Energy Storage Systems ◽  
Battery Energy Storage ◽  
Battery Capacity ◽  
Battery Energy Storage Systems ◽  
Battery Energy

To minimize the curtailment of renewable generation and incentivize grid-scale energy storage deployment, a concept of combining stationary and mobile applications of battery energy storage systems built within renewable energy farms is proposed. A simulation-based optimization model is developed to obtain the optimal design parameters such as battery capacity and power ratings by solving a multi-objective optimization problem that aims to maximize the economic profitability, the energy provided for transportation electrification, the demand peak shaving, and the renewable energy utilized. Two applications considered for the stationary energy storage systems are the end-consumer arbitrage and frequency regulation, while the mobile application envisions a scenario of a grid-independent battery-powered electric vehicle charging station network. The charging stations receive supplies from the energy storage system that absorbs renewable energy, contributing to a sustained DC demand that helps with revenues. Representative results are presented for two operation modes and different sets of weights assigned to the objectives. Substantial improvement in the profitability of combined applications over single stationary applications is shown. Pareto frontier of a reduced dimensional problem is obtained to show the trade-off between design objectives. This work could pave the road for future implementations of the new form of energy storage systems.<br>

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