Scheduling and Sizing Method for Battery Energy Storage System Based on Day-Ahead Prices

2021 IEEE 12th Energy Conversion Congress & Exposition - Asia (ECCE-Asia) 2021
Edvīns Mineiķis, Jānis Zaķis, Aleksandrs Suzdaļenko, Aleksejs Jekimovs

Price-based demand response programs can help reduce electrical expenses by means of controlling a battery energy storage system (BESS). Multiple studies implement a method known as peak shaving, where BESS electrical capacity and scheduling parameters are selected arbitrarily, causing inconsistent results. This research proposes a new BESS scheduling and sizing method based on day-ahead prices. It was demonstrated in a simulation with hourly load and price data, which showed how BESS electrical capacity can be selected for the fastest payback.

Keywords
energy storage; supply and demand; energy management; smart grids; cost benefit analysis
DOI
10.1109/ECCE-Asia49820.2021.9479363
Hyperlink
https://ieeexplore.ieee.org/document/9479363

Mineiķis, E., Zaķis, J., Suzdaļenko, A., Jekimovs, A. Scheduling and Sizing Method for Battery Energy Storage System Based on Day-Ahead Prices. In: 2021 IEEE 12th Energy Conversion Congress & Exposition - Asia (ECCE-Asia), Singapore, Singapūra, 24-27 May, 2021. Piscataway: IEEE, 2021, pp.1443-1446. e-ISBN 978-1-7281-6344-4. e-ISSN 2150-6086. Available from: doi:10.1109/ECCE-Asia49820.2021.9479363

Publication language
English (en)