Energy Equity: Making the Case for Peaker Plant Replacement With Battery Energy Storage

Vu, Khoi; Ntakou, Elli; Schlegelmilch, Jeffrey; Muse, Larissa Paredes; Fioravanti, Richard

doi:10.1109/eesat55007.2022.9998018

Cited by 1 publication

(1 citation statement)

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“…The battery energy storage system is flexible to control and fast in response, and it can achieve good benefits after being put into the grid [19,20]. But, at the same time, its cost is relatively high [21].…”

Section: Introductionmentioning

confidence: 99%

Optimized Power and Capacity Configuration Strategy of a Grid-Side Energy Storage System for Peak Regulation

Guo

Zhang

et al. 2023

Energies

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The optimal configuration of the rated capacity, rated power and daily output power is an important prerequisite for energy storage systems to participate in peak regulation on the grid side. Economic benefits are the main reason driving investment in energy storage systems. In this paper, the relationship between the economic indicators of an energy storage system and its configuration is first analyzed, and the optimization objective function is formulated. Then, according to the objective limitations of the energy storage system configuration and operation, the constraints are formulated. A set of typical parameters is selected, and the CPLEX (IBM ILOG CPLEX Optimization Studio) solver is used in MATLAB to solve the optimal configuration results. Several sets of optimization results are obtained by taking different subjective coefficient β values, and the economic and social benefits of the optimization results are analyzed. When the economic benefits of the energy storage system are more important, the value of β needs to be smaller, such as a value of 1000. Conversely, when the peak-regulation effect is more important, the value of β should be larger. Finally, configuration results of the control groups are given, and the effect of optimizing the calculation for improving economic benefits is verified.

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Section: Introductionmentioning

confidence: 99%