Economic and operation benefits of energy storage — A case study at MISO

Author

Ming Ni ; Zheng Zhou ; Osborn, D.

Author_Institution

MISO, St. Paul, MN, USA

fYear

2012

fDate

22-26 July 2012

Firstpage

1

Lastpage

7

Abstract

Recent changes in the power industry, such as increased renewable generation, higher costs for serving peak demands, capital investments in grid infrastructure for reliability and efficiency, and smart grid initiatives lead to an increased interest in energy storage technologies. Energy storage will bring various economic and operational benefits to the power system. This paper evaluates the potential values that Compressed Air Energy Storage (CAES) can bring to MISO, and the revenue/cost that CAES will get from both energy and ancillary service market by using production cost simulation software (PLEXOS).

Keywords

compressed air energy storage; power markets; power system economics; smart power grids; MISO; ancillary service market; compressed air energy storage; economic benefit; operation benefit; production cost simulation software; renewable generation; smart grid; Atmospheric modeling; Coal; Economics; Energy storage; Production; Software; Wind; Ancillary Service Market; Compressed Air Energy Storage; Energy Market; Energy Storage; Power System Operation; RTO;

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.2012.6345552

Filename

6345552