DocumentCode
2057152
Title
Optimal electric energy storage operation
Author
Junjie Qin ; Sevlian, R. ; Varodayan, D. ; Rajagopal, R.
Author_Institution
Inst. of Comput. & Math. Eng. & the Stanford Sustainable Syst. Lab., Stanford Univ., Stanford, CA, USA
fYear
2012
fDate
22-26 July 2012
Firstpage
1
Lastpage
6
Abstract
Estimating the arbitrage value of storage is an important problem in power systems planning. Various studies have reported different values based numerical solutions of variations of a basic model. In this paper, we instead rely on a closed form solution for storage control. The closed form highlights the right type of forecasting that is required and allows large horizon problems to be solved. We study various scenarios and provide a simple methodology for evaluating the arbitrage value of storage.
Keywords
energy storage; power system planning; optimal electric energy storage operation; power system planning; storage control; Batteries; Dynamic programming; Electricity; Optimal control; Standards; Stochastic processes; Energy storage operation; stochastic dynamic programming; warehousing problem;
fLanguage
English
Publisher
ieee
Conference_Titel
Power and Energy Society General Meeting, 2012 IEEE
Conference_Location
San Diego, CA
ISSN
1944-9925
Print_ISBN
978-1-4673-2727-5
Electronic_ISBN
1944-9925
Type
conf
DOI
10.1109/PESGM.2012.6345242
Filename
6345242
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