Title :
ESS operation algorithm for economics considering battery degradation properties
Author :
Ju-Kyoung Eom ; Yong-Su Noh ; Soon-Ryung Lee ; Bong-Yeon Choi ; Chung-Yuen Won
Author_Institution :
Coll. of Inf. & Commun. Eng., Sungkyunkwan Univ., Suwon, South Korea
fDate :
Aug. 31 2014-Sept. 3 2014
Abstract :
In this paper, Energy storage system(ESS) operation algorithm for economics considering battery degradation properties is proposed. Hourly electricity charge according to real-time pricing (RTP) and battery properties are analyzed for high profit through ESS operation. Especially, hourly electricity charge of Illinois State is analyzed. Characteristics of battery accounts for a high percentage of ESS configuration. Thus, degradation properties of the battery for the price considering the loss of battery usage is considered. The algorithm is proposed for the highest profit through analysis of the battery degradation properties and electricity charge, and the proposed algorithm is verified by mathematical analysis.
Keywords :
battery storage plants; energy management systems; energy storage; pricing; ESS operation algorithm; Illinois State; battery degradation properties; energy storage system; hourly electricity charge; mathematical analysis; real-time pricing; Batteries; Degradation; Discharges (electric); Economics; Electricity; US Department of Defense;
Conference_Titel :
Transportation Electrification Asia-Pacific (ITEC Asia-Pacific), 2014 IEEE Conference and Expo
Conference_Location :
Beijing
Print_ISBN :
978-1-4799-4240-4
DOI :
10.1109/ITEC-AP.2014.6941194
