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Optimal configuration of grid-side battery energy storage system under power marketization

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  • Jiang, Xin
  • Jin, Yang
  • Zheng, Xueyuan
  • Hu, Guobao
  • Zeng, Qingshan

Abstract

From the view of power marketization, a bi-level optimal locating and sizing model for a grid-side battery energy storage system (BESS) with coordinated planning and operation is proposed in this paper. Taking the conventional unit side, wind farm side, BESS side, and grid side as independent stakeholder operators (ISOs), the benefits of BESS are divided into direct and indirect parts. The direct revenue for BESS is the arbitrage of the peak-valley electricity price and auxiliary service compensation. The indirect revenue refers to the benefits that BESS provides to other ISOs, including wind curtailed energy savings, a reduction in the operating cost of units, and a decrease in network loss. To maximize the comprehensive benefits of BESS, the outer layer is a multi-objective optimal model for BESS locating and sizing based on a cost-benefit analysis. The inner layer is an optimal scheduling model that coordinates wind power, units, and BESS. Thus, a multi-objective bi-level model for the optimal configuration of BESS is established. In addition, by considering the impact of a charge/discharge strategy on the life cycle of BESS, the interaction between BESS planning and operation is introduced into the model based on the equivalent life loss. The multi-objective particle swarm optimization (PSO) based on the information entropy method and the second-order cone relaxation method is employed to solve the optimal model. Results based on an improved IEEE 39-node system verify the feasibility and effectiveness of the proposed model.

Suggested Citation

  • Jiang, Xin & Jin, Yang & Zheng, Xueyuan & Hu, Guobao & Zeng, Qingshan, 2020. "Optimal configuration of grid-side battery energy storage system under power marketization," Applied Energy, Elsevier, vol. 272(C).
    • Handle: RePEc:eee:appene:v:272:y:2020:i:c:s0306261920307546
    DOI: 10.1016/j.apenergy.2020.115242
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    References listed on IDEAS

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    5. Chen, Xiaojiao & Huang, Liansheng & Liu, Junbo & Song, Dongran & Yang, Sheng, 2022. "Peak shaving benefit assessment considering the joint operation of nuclear and battery energy storage power stations: Hainan case study," Energy, Elsevier, vol. 239(PA).

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