IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v14y2021i12p3707-d579096.html
   My bibliography  Save this article

Research on the Optimized Operation of Hybrid Wind and Battery Energy Storage System Based on Peak-Valley Electricity Price

Author

Listed:
  • Miao Miao

    (State Key Laboratory of Advanced Electromagnetic Engineering and Technology, Huazhong University of Science and Technology, Wuhan 430074, China)

  • Suhua Lou

    (State Key Laboratory of Advanced Electromagnetic Engineering and Technology, Huazhong University of Science and Technology, Wuhan 430074, China)

  • Yuanxin Zhang

    (State Key Laboratory of Advanced Electromagnetic Engineering and Technology, Huazhong University of Science and Technology, Wuhan 430074, China
    China-EU Institute for Clean and Renewable Energy, Huazhong University of Science and Technology, Wuhan 430074, China)

  • Xing Chen

    (State Key Laboratory of Advanced Electromagnetic Engineering and Technology, Huazhong University of Science and Technology, Wuhan 430074, China
    China-EU Institute for Clean and Renewable Energy, Huazhong University of Science and Technology, Wuhan 430074, China)

Abstract

The combined operation of hybrid wind power and a battery energy storage system can be used to convert cheap valley energy to expensive peak energy, thus improving the economic benefits of wind farms. Considering the peak–valley electricity price, an optimization model of the economic benefits of a combined wind–storage system was developed. A charging/discharging strategy of the battery storage system was proposed to maximize the economic benefits of the combined wind–storage system based on the forecast wind power. The maximal economic benefits were obtained based on scenario analysis, taking into account the wind-power forecast error, and costs associated with the loss of battery life, battery operation, and maintenance. Case simulation results highlight the effectiveness of the proposed model. The results show that the hybrid wind–storage system is not only able to convert cheap electricity in the valley period into expensive electricity in the peak period, thus resulting in higher economic benefits, but can also balance the deviation between actual output and plans for the wind power generator to decrease the loss penalty. The analyzed examples show that, following an increase in the deviation of the forecast wind power, the profit of the combined wind–storage system can increase by up to 45% using the charging/discharging strategy, compared with a wind farm that does not utilize energy storage. In addition, the profit of the combined wind–storage system can increase by up to 16% compared with separate systems, following an increase in the deviation penalty deviation coefficient.

Suggested Citation

  • Miao Miao & Suhua Lou & Yuanxin Zhang & Xing Chen, 2021. "Research on the Optimized Operation of Hybrid Wind and Battery Energy Storage System Based on Peak-Valley Electricity Price," Energies, MDPI, vol. 14(12), pages 1-11, June.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:12:p:3707-:d:579096
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/14/12/3707/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/14/12/3707/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Khalid, Muhammad & Aguilera, Ricardo P. & Savkin, Andrey V. & Agelidis, Vassilios G., 2018. "On maximizing profit of wind-battery supported power station based on wind power and energy price forecasting," Applied Energy, Elsevier, vol. 211(C), pages 764-773.
    2. Loukatou, Angeliki & Johnson, Paul & Howell, Sydney & Duck, Peter, 2021. "Optimal valuation of wind energy projects co-located with battery storage," Applied Energy, Elsevier, vol. 283(C).
    3. Li, Sai & Fang, Huajing & Shi, Bing, 2021. "Remaining useful life estimation of Lithium-ion battery based on interacting multiple model particle filter and support vector regression," Reliability Engineering and System Safety, Elsevier, vol. 210(C).
    4. Li, Jianwei & Gee, Anthony M. & Zhang, Min & Yuan, Weijia, 2015. "Analysis of battery lifetime extension in a SMES-battery hybrid energy storage system using a novel battery lifetime model," Energy, Elsevier, vol. 86(C), pages 175-185.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Qi Huang & Aihua Jiang & Yu Zeng & Jianan Xu, 2022. "Community Flexible Load Dispatching Model Based on Herd Mentality," Energies, MDPI, vol. 15(13), pages 1-18, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Barelli, L. & Bidini, G. & Bonucci, F. & Castellini, L. & Fratini, A. & Gallorini, F. & Zuccari, A., 2019. "Flywheel hybridization to improve battery life in energy storage systems coupled to RES plants," Energy, Elsevier, vol. 173(C), pages 937-950.
    2. Muhammad Khalid, 2019. "A Review on the Selected Applications of Battery-Supercapacitor Hybrid Energy Storage Systems for Microgrids," Energies, MDPI, vol. 12(23), pages 1-34, November.
    3. Zhang, Jiusi & Jiang, Yuchen & Li, Xiang & Huo, Mingyi & Luo, Hao & Yin, Shen, 2022. "An adaptive remaining useful life prediction approach for single battery with unlabeled small sample data and parameter uncertainty," Reliability Engineering and System Safety, Elsevier, vol. 222(C).
    4. Cao, Mengda & Zhang, Tao & Liu, Yajie & Zhang, Yajun & Wang, Yu & Li, Kaiwen, 2022. "An ensemble learning prognostic method for capacity estimation of lithium-ion batteries based on the V-IOWGA operator," Energy, Elsevier, vol. 257(C).
    5. Liu, Xingheng & Matias, José & Jäschke, Johannes & Vatn, Jørn, 2022. "Gibbs sampler for noisy Transformed Gamma process: Inference and remaining useful life estimation," Reliability Engineering and System Safety, Elsevier, vol. 217(C).
    6. Wang, Shuoqi & Guo, Dongxu & Han, Xuebing & Lu, Languang & Sun, Kai & Li, Weihan & Sauer, Dirk Uwe & Ouyang, Minggao, 2020. "Impact of battery degradation models on energy management of a grid-connected DC microgrid," Energy, Elsevier, vol. 207(C).
    7. Wei, Meng & Balaya, Palani & Ye, Min & Song, Ziyou, 2022. "Remaining useful life prediction for 18650 sodium-ion batteries based on incremental capacity analysis," Energy, Elsevier, vol. 261(PA).
    8. Li, Yang & Vilathgamuwa, Mahinda & Choi, San Shing & Xiong, Binyu & Tang, Jinrui & Su, Yixin & Wang, Yu, 2020. "Design of minimum cost degradation-conscious lithium-ion battery energy storage system to achieve renewable power dispatchability," Applied Energy, Elsevier, vol. 260(C).
    9. Pablo Fernández-Bustamante & Oscar Barambones & Isidro Calvo & Cristian Napole & Mohamed Derbeli, 2021. "Provision of Frequency Response from Wind Farms: A Review," Energies, MDPI, vol. 14(20), pages 1-24, October.
    10. Wenhao Zhuo & Andrey V. Savkin, 2019. "Profit Maximizing Control of a Microgrid with Renewable Generation and BESS Based on a Battery Cycle Life Model and Energy Price Forecasting," Energies, MDPI, vol. 12(15), pages 1-17, July.
    11. Fan, Feilong & Huang, Wentao & Tai, Nengling & Zheng, Xiaodong & Hu, Yan & Ma, Zhoujun, 2018. "A conditional depreciation balancing strategy for the equitable operation of extended hybrid energy storage systems," Applied Energy, Elsevier, vol. 228(C), pages 1937-1952.
    12. Luis Fernando Grisales-Noreña & Carlos Andrés Ramos-Paja & Daniel Gonzalez-Montoya & Gerardo Alcalá & Quetzalcoatl Hernandez-Escobedo, 2020. "Energy Management in PV Based Microgrids Designed for the Universidad Nacional de Colombia," Sustainability, MDPI, vol. 12(3), pages 1-24, February.
    13. Zhu, Tao & Wills, Richard G.A. & Lot, Roberto & Kong, Xiaodan & Yan, Xingda, 2021. "Optimal sizing and sensitivity analysis of a battery-supercapacitor energy storage system for electric vehicles," Energy, Elsevier, vol. 221(C).
    14. Bai, Guangxing & Su, Yunsheng & Rahman, Maliha Maisha & Wang, Zequn, 2023. "Prognostics of Lithium-Ion batteries using knowledge-constrained machine learning and Kalman filtering," Reliability Engineering and System Safety, Elsevier, vol. 231(C).
    15. Ibrahim Alotaibi & Mohammed A. Abido & Muhammad Khalid & Andrey V. Savkin, 2020. "A Comprehensive Review of Recent Advances in Smart Grids: A Sustainable Future with Renewable Energy Resources," Energies, MDPI, vol. 13(23), pages 1-41, November.
    16. Hong-Chao Gao & Joon-Ho Choi & Sang-Yun Yun & Hak-Ju Lee & Seon-Ju Ahn, 2018. "Optimal Scheduling and Real-Time Control Schemes of Battery Energy Storage System for Microgrids Considering Contract Demand and Forecast Uncertainty," Energies, MDPI, vol. 11(6), pages 1-15, May.
    17. Wang, Qiao & Ye, Min & Wei, Meng & Lian, Gaoqi & Li, Yan, 2023. "Random health indicator and shallow neural network based robust capacity estimation for lithium-ion batteries with different fast charging protocols," Energy, Elsevier, vol. 271(C).
    18. Zhang, Yong & Tu, Lei & Xue, Zhiwei & Li, Sai & Tian, Lulu & Zheng, Xiujuan, 2022. "Weight optimized unscented Kalman filter for degradation trend prediction of lithium-ion battery with error compensation strategy," Energy, Elsevier, vol. 251(C).
    19. Shu, Xing & Shen, Jiangwei & Chen, Zheng & Zhang, Yuanjian & Liu, Yonggang & Lin, Yan, 2022. "Remaining capacity estimation for lithium-ion batteries via co-operation of multi-machine learning algorithms," Reliability Engineering and System Safety, Elsevier, vol. 228(C).
    20. Wang, Fujin & Zhao, Zhibin & Zhai, Zhi & Guo, Yanjie & Xi, Huan & Wang, Shibin & Chen, Xuefeng, 2023. "Feature disentanglement and tendency retainment with domain adaptation for Lithium-ion battery capacity estimation," Reliability Engineering and System Safety, Elsevier, vol. 230(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:14:y:2021:i:12:p:3707-:d:579096. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.