Battery storage systems: An economic model-based analysis of parallel revenue streams and general implications for industry

Braeuer, Fritz; Rominger, Julian; McKenna, Russell; Fïchtner, Wolf

doi:10.1016/j.apenergy.2019.01.050

Cited by 85 publications

(62 citation statements)

References 50 publications

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“…Figure 6 shows the resulting distribution of charge and discharge power. As expected, the most likely power is the maximum power of the inverter, which corresponds to 1 N of the maximum power of the single inverter setup. Only very few events occur, where low power is requested.…”

Section: Lossessupporting

confidence: 72%

“…Grid storage systems on megawatt scale play a vital role for the integration of renewable energies into electricity markets and grids. Several investigations focus on the development of optimized battery operation strategies [1][2][3][4][5]. For several reasons, existing grid storage systems usually consist of multiple batteries and inverters.…”

Section: Introductionmentioning

confidence: 99%

“…Moreover, modular systems avoid single points of failure, which leads to higher fault tolerance. Although the modularity of existing grid storage systems is well known, most of the analyses describe the storage system as a single battery combined with a single inverter [1][2][3][4][5][6][7][8][9]. Few studies are known that analyze the modularity of grid-connected battery systems and the related effect on system efficiency during operation and the influence of these energy losses on the operating strategy of the system [10,11].…”

Section: Introductionmentioning

confidence: 99%

“…Here, we assume the power rating of the total storage system to be constant. Therefore, the power rating of the inverter and the constant losses scale with 1 N . The impact on the efficiency is evident up to a number of inverters of 4.…”

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Efficient Operation of Modular Grid-Connected Battery Inverters for RES Integration

Ried

Schmiegel

Munzke

2019

Trends in Mathematics

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Grid-connected battery storage systems on megawatt-scale play an important role for the integration of renewable energies into electricity markets and grids. In reality, these systems consist of several batteries and inverters, which have a lower energy conversion efficiency in partial load operation. In renewable energy sources (RES) applications, however, battery systems are often operated at low power. The modularity of grid-connected battery storage systems thus allows improving system efficiency during operation. This contribution aims at quantifying the effect of segmenting the system into multiple battery-inverter subsystems on reducing operating losses. The analysis is based on a mixed-integer linear program that determines the system operation by minimizing operating losses. The analysis shows that systems with high modularity can meet a given schedule with lower losses. Increasing modularity from one to 32 subsystems can reduce operating losses by almost 40%. As the number of subsystems increases, the benefit of higher efficiency decreases. The resulting state of charge (SOC) pattern of the batteries is similar for the investigated systems, while the average SOC value is higher in highly modular systems.

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Section: Lossessupporting

confidence: 72%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Efficient Operation of Modular Grid-Connected Battery Inverters for RES Integration

Ried

Schmiegel

Munzke

2019

Trends in Mathematics

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“…Few authors however have looked at the combination of both services. Braeuer et al [19] perform a high-level economic analysis of BESSs combining peak shaving with frequency control. A similar approach is followed in [20], but with the peak shaving objective formulated as a hard network constraint, rather than implicitly through a demand charge.…”

Section: Related Literaturementioning

confidence: 99%

Optimal Combination of Frequency Control and Peak Shaving With Battery Storage Systems

Engels

Claessens²

2020

IEEE Trans. Smart Grid

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Combining revenue streams by providing multiple services with battery storage systems increases profitability and enhances the investment case. In this work, we present a novel optimisation and control framework that enables a storage system to optimally combine the provision of primary frequency control services with peak shaving of a consumption profile.We adopt a dynamic programming framework to connect the daily bidding in frequency control markets with the longer term peak shaving objective: reducing the maximum consumption peak over an entire billing period. The framework also allows to aggregate frequency control capacity of multiple batteries installed at different sites, creating synergies when the consumption profile peaks occur on different times.Using a case study of two batteries at two industrial sites, we show that the presented approach increases net profit of the batteries significantly compared to using the batteries for only peak shaving or frequency control.

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Optimal Strategies for Hybrid Battery‐Storage Systems Design

Koleva

Shi²,

McKenna

et al. 2023

Energy Tech

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As stationary hybrid energy‐storage systems (HESS) for power systems applications have recently drawn interest due to their enhanced performance and decreasing cost, developing systematic approaches for HESS design while considering controls is gaining traction. Herein, a method is presented to optimally design hybrid battery storage by proposing a mathematical modeling framework, formulated as a mixed integer linear programming model. The optimization is capable of handling multiple subsystems of batteries, considering their economic and technological performance. Decisions involve sizing of the batteries, optimal temporal and strategic dispatch to end uses, and energy sources for charging each battery. The applicability of the model is tested on four case studies for three battery chemistries representing distinct objectives: high‐power, high‐energy, and second life. Compared to traditionally designed battery storage with a homogeneous battery, optimally designed hybrid systems can save 12%–26% of system costs, depending on the nature of the dispatch profile. Findings point to design preference toward the second life battery supplemented with some high‐power or high‐energy battery capacity, or both. With the utilized electricity price structure, customers can experience approximately 10%–35% reduction in their bills.

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Battery storage systems: An economic model-based analysis of parallel revenue streams and general implications for industry

Cited by 85 publications

References 50 publications

Efficient Operation of Modular Grid-Connected Battery Inverters for RES Integration

Efficient Operation of Modular Grid-Connected Battery Inverters for RES Integration

Optimal Combination of Frequency Control and Peak Shaving With Battery Storage Systems

Optimal Strategies for Hybrid Battery‐Storage Systems Design

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