Economic benefit evaluation and incentive strategy research on Wind energy and BESS jointly participating in reducing the forecast deviation penalty

Chen, BoJian; Xiang, Kangli; Su, Qingmei; Liu, Gang; Lin, Yanqiang; Huang, Daoshan

doi:10.1109/egrid48402.2019.9092713

Cited by 2 publications

(1 citation statement)

References 1 publication

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Recently, it has been asserted that incentives after the contribution of the BESSs to the grid stability should be introduced to accurately evaluate the contributions. One crucial reason for the incentive is the profitability of the BESS, because the initial investment costs of a BESS are not negligible [11].…”

Section: Introductionmentioning

confidence: 99%

Integrated DA Coordination of DER Considering Reliability Constraints for Participation in the Renewable Energy Certificate Market in South Korea: A Case Study in a DER Complex

Lee

2021

Applied Sciences

View full text Add to dashboard Cite

Due to the penetration of renewable energy sources increasing in South Korea, problems related to system reliability have been emerging. Thus, localized control methods have also been gaining attention as one of the measures. However, due to the AOs (asset owners) lacking management experience of coordinating resources between the BESS (battery energy storage system) and the renewable device, there have been multiple issues related to damages caused by fire. Thus, the governmental reliability committee in South Korea has recently mandated an order adding reliability constraints to the SoC (state of charge) management and incentives for the AOs to follow the reliability constraints as specified, despite concerns from the AOs that the order possibly reduces their revenues. Thus, this study provides a structured analysis, for the first time, on how the incentive and the reliability constraints influence and interact with each other in coordinated operating schemes between BESSs and renewables as integrated scheduling systems. In the base case, the current scheduling method was applied. In case 1, profit maximization was introduced to confirm the effectiveness of the structured operation. In case 2, a reliability constraint was added, and a reliability constraint with incentives was added in case 3 to confirm the effects thereafter on the revenue streams.

show abstract

Section: Introductionmentioning

confidence: 99%

Integrated DA Coordination of DER Considering Reliability Constraints for Participation in the Renewable Energy Certificate Market in South Korea: A Case Study in a DER Complex

Lee

2021

Applied Sciences

View full text Add to dashboard Cite

show abstract

Battery Energy Storage Systems for the New Electricity Market Landscape: Modeling, State Diagnostics, Management, and Viability—A Review

Carrasco Ortega,

Durán Gómez,

Mérida Sánchez

et al. 2023

Energies

View full text Add to dashboard Cite

Renewable energy penetration and distributed generation are key for the transition towards more sustainable societies, but they impose a substantial challenge in terms of matching generation with demand due to the intermittent and unpredictable nature of some of these renewable energy sources. Thus, the role of energy storage in today’s and future electricity markets is undisputed. Batteries stand out among the different alternatives for energy storage. The R&D effort into different battery chemistries contributes to reducing the investment associated with battery systems. However, optimizing their operation according to the users’ and the electricity markets’ needs is the turning point to finally make these systems attractive. This review delves into the topic of battery management systems from a battery-technology-independent perspective, and it also explores more fundamental but related aspects, such as battery modeling or state estimation. The techno-economic part of battery energy storage systems is also covered in this document to understand their real potential and viability.

show abstract

Economic benefit evaluation and incentive strategy research on Wind energy and BESS jointly participating in reducing the forecast deviation penalty

Cited by 2 publications

References 1 publication

Integrated DA Coordination of DER Considering Reliability Constraints for Participation in the Renewable Energy Certificate Market in South Korea: A Case Study in a DER Complex

Integrated DA Coordination of DER Considering Reliability Constraints for Participation in the Renewable Energy Certificate Market in South Korea: A Case Study in a DER Complex

Battery Energy Storage Systems for the New Electricity Market Landscape: Modeling, State Diagnostics, Management, and Viability—A Review

Contact Info

Product

Resources

About