Title :
Economic dispatch algorithm considering battery degradation characteristic of energy storage system with PV system
Author :
Ju-Kyoung Eom ; Soon-Ryung Lee ; Eun-Jung Ha ; Bong-Yeon Choi ; Chung-Yuen Won
Author_Institution :
Coll. of Inf. & Commun. Eng., Sungkyunkwan Univ., Seoul, South Korea
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; dispatching; energy storage; losses; mathematical analysis; photovoltaic power systems; power system economics; pricing; profitability; ESS operation algorithm; Illinois state; PV system; RTS; battery degradation characteristic; battery usage loss; economic dispatch algorithm; energy storage system; high profit; hourly electricity charge; mathematical analysis; real-time pricing; Batteries; Degradation; Discharges (electric); Electricity; Radiation effects; US Department of Defense;
Conference_Titel :
Electrical Machines and Systems (ICEMS), 2014 17th International Conference on
Conference_Location :
Hangzhou
DOI :
10.1109/ICEMS.2014.7013587
