2014 17th International Conference on Electrical Machines and Systems (ICEMS) 2014
DOI: 10.1109/icems.2014.7013587
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Economic dispatch algorithm considering battery degradation characteristic of energy storage system with PV system

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 … Show more

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Cited by 14 publications
(3 citation statements)
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“…ΔT is in minutes. Battery degradation characteristics suggest a (SOC) min of 40-50% to be the most optimum when considering average wear cost [14].…”
Section: ) Storage Charging and Dischargingmentioning
confidence: 99%
“…ΔT is in minutes. Battery degradation characteristics suggest a (SOC) min of 40-50% to be the most optimum when considering average wear cost [14].…”
Section: ) Storage Charging and Dischargingmentioning
confidence: 99%
“…4 [71]. In [72], another degradation model is reported for battery usage where the calendar aging cost of the battery (C Bat,calendar ) considering of its depth of discharge (DOD) usage and the initial cost is calculated as follows:…”
Section: ) Li-ion Battery Degradation Modelmentioning
confidence: 99%
“…For the PV system, the levelized cost of energy (LCOE) of the system was calculated with the objective of generating an estimated cost of using the PV system. Similarly, since SBMPC requires knowledge of the cost of using the energy storage system, a similar approach to [34] was used to calculate a price rate r ES for the energy storage (ES) system. The equation used was:…”
Section: Real-time Price and Levelized Cost Of Energy For Es And Pv S...mentioning
confidence: 99%