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A dynamic model-based estimate of the value of a vanadium redox flow battery for frequency regulation in Texas

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  • Fares, Robert L.
  • Meyers, Jeremy P.
  • Webber, Michael E.

Abstract

Building on past work seeking to value emerging energy storage technologies in grid-based applications, this paper introduces a dynamic model-based framework to value a vanadium redox flow battery (VRFB) participating in Texas’ organized electricity market. Our model describes the dynamic behavior of a VRFB system’s voltage and state of charge based on the instantaneous charging or discharging power required from the battery. We formulate an optimization problem that incorporates the model to show the potential value of a VRFB used for frequency regulation service in Texas. The optimization is implemented in Matlab using the large-scale, interior-point, nonlinear optimization algorithm, with the objective function gradient, nonlinear constraint gradients, and Hessian matrix specified analytically. Utilizing market prices and other relevant data from the Electric Reliability Council of Texas (ERCOT), we find that a VRFB system used for frequency regulation service could be worth approximately $1500/kW.

Suggested Citation

  • Fares, Robert L. & Meyers, Jeremy P. & Webber, Michael E., 2014. "A dynamic model-based estimate of the value of a vanadium redox flow battery for frequency regulation in Texas," Applied Energy, Elsevier, vol. 113(C), pages 189-198.
    • Handle: RePEc:eee:appene:v:113:y:2014:i:c:p:189-198
    DOI: 10.1016/j.apenergy.2013.07.025
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    1. Yin, Cong & Guo, Shaoyun & Fang, Honglin & Liu, Jiayi & Li, Yang & Tang, Hao, 2015. "Numerical and experimental studies of stack shunt current for vanadium redox flow battery," Applied Energy, Elsevier, vol. 151(C), pages 237-248.
    2. Zhuang, Rui & Wang, Xiaonan & Guo, Miao & Zhao, Yingru & El-Farra, Nael H. & Palazoglu, Ahmet, 2020. "Waste-to-hydrogen: Recycling HCl to produce H2 and Cl2," Applied Energy, Elsevier, vol. 259(C).
    3. Wei, Zhongbao & Zhao, Jiyun & Xiong, Binyu, 2014. "Dynamic electro-thermal modeling of all-vanadium redox flow battery with forced cooling strategies," Applied Energy, Elsevier, vol. 135(C), pages 1-10.
    4. Badrinarayanan, Rajagopalan & Tseng, King Jet & Soong, Boon Hee & Wei, Zhongbao, 2017. "Modelling and control of vanadium redox flow battery for profile based charging applications," Energy, Elsevier, vol. 141(C), pages 1479-1488.
    5. Engels, Jonas & Claessens, Bert & Deconinck, Geert, 2019. "Techno-economic analysis and optimal control of battery storage for frequency control services, applied to the German market," Applied Energy, Elsevier, vol. 242(C), pages 1036-1049.
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    7. Li, Yifeng & Bao, Jie & Skyllas-Kazacos, Maria & Akter, Md Parvez & Zhang, Xinan & Fletcher, John, 2019. "Studies on dynamic responses and impedance of the vanadium redox flow battery," Applied Energy, Elsevier, vol. 237(C), pages 91-102.
    8. Wang, Q. & Qu, Z.G. & Jiang, Z.Y. & Yang, W.W., 2018. "Experimental study on the performance of a vanadium redox flow battery with non-uniformly compressed carbon felt electrode," Applied Energy, Elsevier, vol. 213(C), pages 293-305.
    9. Zhou, X.L. & Zhao, T.S. & An, L. & Zeng, Y.K. & Yan, X.H., 2015. "A vanadium redox flow battery model incorporating the effect of ion concentrations on ion mobility," Applied Energy, Elsevier, vol. 158(C), pages 157-166.
    10. Gao, Xian & Knueven, Bernard & Siirola, John D. & Miller, David C. & Dowling, Alexander W., 2022. "Multiscale simulation of integrated energy system and electricity market interactions," Applied Energy, Elsevier, vol. 316(C).
    11. Zheng, Qiong & Li, Xianfeng & Cheng, Yuanhui & Ning, Guiling & Xing, Feng & Zhang, Huamin, 2014. "Development and perspective in vanadium flow battery modeling," Applied Energy, Elsevier, vol. 132(C), pages 254-266.
    12. Wei, L. & Zhao, T.S. & Xu, Q. & Zhou, X.L. & Zhang, Z.H., 2017. "In-situ investigation of hydrogen evolution behavior in vanadium redox flow batteries," Applied Energy, Elsevier, vol. 190(C), pages 1112-1118.
    13. Blaifi, S. & Moulahoum, S. & Colak, I. & Merrouche, W., 2016. "An enhanced dynamic model of battery using genetic algorithm suitable for photovoltaic applications," Applied Energy, Elsevier, vol. 169(C), pages 888-898.
    14. Zakeri, Behnam & Syri, Sanna, 2015. "Electrical energy storage systems: A comparative life cycle cost analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 42(C), pages 569-596.
    15. Elmore, Clay T. & Dowling, Alexander W., 2021. "Learning spatiotemporal dynamics in wholesale energy markets with dynamic mode decomposition," Energy, Elsevier, vol. 232(C).
    16. Malhotra, Abhishek & Battke, Benedikt & Beuse, Martin & Stephan, Annegret & Schmidt, Tobias, 2016. "Use cases for stationary battery technologies: A review of the literature and existing projects," Renewable and Sustainable Energy Reviews, Elsevier, vol. 56(C), pages 705-721.
    17. Khan, Agha Salman M. & Verzijlbergh, Remco A. & Sakinci, Ozgur Can & De Vries, Laurens J., 2018. "How do demand response and electrical energy storage affect (the need for) a capacity market?," Applied Energy, Elsevier, vol. 214(C), pages 39-62.
    18. Dowling, Alexander W. & Kumar, Ranjeet & Zavala, Victor M., 2017. "A multi-scale optimization framework for electricity market participation," Applied Energy, Elsevier, vol. 190(C), pages 147-164.
    19. Zhao, Dongwei & Jafari, Mehdi & Botterud, Audun & Sakti, Apurba, 2022. "Strategic energy storage investments: A case study of the CAISO electricity market," Applied Energy, Elsevier, vol. 325(C).
    20. Dowling, Alexander W. & Zheng, Tian & Zavala, Victor M., 2017. "Economic assessment of concentrated solar power technologies: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 72(C), pages 1019-1032.
    21. Yajing Gao & Fushen Xue & Wenhai Yang & Yanping Sun & Yongjian Sun & Haifeng Liang & Peng Li, 2017. "A Three-Part Electricity Price Mechanism for Photovoltaic-Battery Energy Storage Power Plants Considering the Power Quality and Ancillary Service," Energies, MDPI, vol. 10(9), pages 1-21, August.
    22. Jalving, Jordan & Ghouse, Jaffer & Cortes, Nicole & Gao, Xian & Knueven, Bernard & Agi, Damian & Martin, Shawn & Chen, Xinhe & Guittet, Darice & Tumbalam-Gooty, Radhakrishna & Bianchi, Ludovico & Beat, 2023. "Beyond price taker: Conceptual design and optimization of integrated energy systems using machine learning market surrogates," Applied Energy, Elsevier, vol. 351(C).
    23. Nagasawa, Kazunori & Davidson, F. Todd & Lloyd, Alan C. & Webber, Michael E., 2019. "Impacts of renewable hydrogen production from wind energy in electricity markets on potential hydrogen demand for light-duty vehicles," Applied Energy, Elsevier, vol. 235(C), pages 1001-1016.
    24. Pugach, M. & Vyshinsky, V. & Bischi, A., 2019. "Energy efficiency analysis for a kilo-watt class vanadium redox flow battery system," Applied Energy, Elsevier, vol. 253(C), pages 1-1.

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