Optimal Allocation and Economic Analysis of Energy Storage System in Microgrids

Abstract

This paper presents a methodology for the optimal allocation and economic analysis of energy storage system (ESS) in microgrids (MGs) on the basis of net present value (NPV). As the performance of an MG strongly depends on the allocation and arrangement of its ESS, optimal allocation methods and economic operation strategies of the ESS devices are required for the MG. To optimize the operation strategies and capacities of ESS in MGs, the financial benefit and dynamic models of ESS are discussed. And then, a matrix real-coded genetic algorithm is applied to find maximal NPV, in which each GA chromosome consists of a 2-D real number matrix representing the generation schedule of ESS and distributed generation sources. This paper is to suggest, among those available ESS, the optimal sizes and types of them and their optimal arrangement, such that the total NPV achieved during the system operational lifetime period is maximized. Finally, some computational simulation results are presented to verify the effectiveness of the proposed method.

Review of Non-Traditional Optimization Methods for Allocation of Distributed Generation and Energy Storage in Distribution System

“…Deployment and economic value of EES microgrids with high integration of photovoltaic systems and EES [52] According to [45], EES degrades with use during each process of charging and discharging.…”

“…Chen et al [52] used matrix real-coded genetic algorithm for deployment and economic value of EES. The proposed method can be used for commissioning of microgrids with high integration of photovoltaic systems and EES.…”

Conceptualization of research of power hybrid electric power complexes

“…In addition, a wide range of studies [14][15][16][17][18][19] found that the use of energy storage systems (ESS) is one of the most effective solutions for quality, reliability and power of SPP and contributes to greater development of efficient energy distribution. Some studies [20,21] showed that the optimal control of ESS in SPP with multiple bus structures that are built using Flexible Alternative Current Transmission Systems (FACTS) and are the Western System Coordinating Council (WSCC) with the uneven impedance distribution will reduce the peak load, the cost of power supply renovation and compensate the negative impact on the environment.…”

Optimal Tilt Angle of Photovoltaic Arrays and Economic Allocation of Energy Storage System on Large Oil Tanker Ship

“…Studies [20][21][22][23] have found that the use of an ESS is one of the most effective ways to ensure the reliability and power quality of power systems and favors the increased penetration of distributed generation resources. Some investigations [24][25][26] have demonstrated that the optimal management of ESS with distributed generators in power systems can reduce the cost and loss of power; improve the voltage profile; shave the peak load; and reduce the negative impact of power generation on the environment.…”