Impact of Energy Storage Costs on Economical Performance in a Distribution Substation

Chacra, F.A.; Bastard, P.; Fleury, Gilles; Clavreul, R.

doi:10.1109/tpwrs.2005.846091

Cited by 151 publications

(64 citation statements)

References 11 publications

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“…To minimize the costs of the DN, the charge/discharge operation must be scheduled so as to store energy during periods of low energy prices (light-load periods) and discharge during the hours of the day in which the peak demand of the DN occurs [24]. For this purpose, the BESS model used in this work considers the stored energy as a state variable [24,27]. The energy level in the BESS is calculated as the difference between the stored energy of two consecutive stages [27]:…”

Section: Bess Schedulingmentioning

confidence: 99%

“…The energy costs are expressed in cost per unit of stored energy ($/kWh), while the power costs in cost per unit of power ($/kW). Consequently the BESS capital costs can be expressed as [24,30]:…”

Section: Economic Evaluationmentioning

confidence: 99%

“…However, most of them have drawbacks related to making important assumptions about key aspects affecting ESS profitability such as efficiency, life cycles, and specific costs. Unfortunately, most of the time, the exact values of these ESS characteristics are quite difficult to determine due to the high uncertainty involved and because of the continuous changes in ESS technology with research and development activities [24]. Furthermore, since the initial capital costs of many storage technologies are still high, acquiring an ESS for reducing the peak demand (peak shaving applications) can be justified in DNs if the daily load profile leads to an important price difference between peak and off-peak load periods [9], and the demand charges paid by the DN are high.…”

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confidence: 99%

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Break-Even Points of Battery Energy Storage Systems for Peak Shaving Applications

et al. 2017

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Abstract:In the last few years, several investigations have been carried out in the field of optimal sizing of energy storage systems (ESSs) at both the transmission and distribution levels. Nevertheless, most of these works make important assumptions about key factors affecting ESS profitability such as efficiency and life cycles and especially about the specific costs of the ESS, without considering the uncertainty involved. In this context, this work aims to answer the question: what should be the costs of different ESS technologies in order to make a profit when considering peak shaving applications? The paper presents a comprehensive sensitivity analysis of the interaction between the profitability of an ESS project and some key parameters influencing the project performance. The proposed approach determines the break-even points for different ESSs considering a wide range of life cycles, efficiencies, energy prices, and power prices. To do this, an optimization algorithm for the sizing of ESSs is proposed from a distribution company perspective. From the results, it is possible to conclude that, depending on the values of round trip efficiency, life cycles, and power price, there are four battery energy storage systems (BESS) technologies that are already profitable when only peak shaving applications are considered: lead acid, NaS, ZnBr, and vanadium redox.

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Section: Bess Schedulingmentioning

confidence: 99%

Section: Economic Evaluationmentioning

confidence: 99%

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confidence: 99%

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Break-Even Points of Battery Energy Storage Systems for Peak Shaving Applications

et al. 2017

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“…'The major impact and costs originating from the production and consumption of energy related activities such as fuel cycles', [8]. These costs arise when an activity with a specified price has an impact on another activity, and imposes on the latter an additional cost that was not accounted for in the former price.…”

Section: World Energy Demands and Energy Sourcesmentioning

confidence: 99%

Strategic Orientation to Solar Energy Productionand Long Term Financial Benefits

Stevović¹

2017

AFST

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The strategy for developing and improving the application of green, clean, renewable and gratis solar energy is a challenge for multidisciplinary teams of scientists. Exquisite examples of positive world practice of the largest solar power plants are presented in this paper, with all the characteristics, starting from the materials of photovoltaic panels and technical performance to the cost and financial benefits. The aim was to analyze the development of solar technologies in the function of defining further perspectives. The techno economic feasibility of the strategic orientation towards solar energy has been demonstrated in the model of the solar power plant, carried out by experiment, profitability calculation and multi-criteria analysis. The conclusion is that long-term financial and holistic benefits can be achieved by investing in solar power plants.

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“…To find the maximal NPV a matrix real coded genetic algorithm is used. A Genetic Algorithm (GA) [5] based on multiple objective functions. To evaluate the economic impact of energy storage specific cost on net present value of energy storage installations in distribution substations.…”

mentioning

confidence: 99%

Cost Optimization of Energy Storage Systems Based on Wind Resources Using Gravitational Search Algorithm.

Raghunathan¹,

Pavithra²

2017

IJAR

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Impact of Energy Storage Costs on Economical Performance in a Distribution Substation

Cited by 151 publications

References 11 publications

Break-Even Points of Battery Energy Storage Systems for Peak Shaving Applications

Break-Even Points of Battery Energy Storage Systems for Peak Shaving Applications

Strategic Orientation to Solar Energy Productionand Long Term Financial Benefits

Cost Optimization of Energy Storage Systems Based on Wind Resources Using Gravitational Search Algorithm.

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