Economic viability of price arbitrage operation of vanadium redox battey in Alberta's energy market

Adebayo, Abiola I.; Zamani-Dehkordi, Payam; Zareipour, Hamidreza; Knight, Andrew M.

doi:10.1049/cp.2016.0476

Cited by 2 publications

(2 citation statements)

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“…Strategies to solve the arbitrage problem are shown in [26]. They range from simple linear programming (LP) [27][28][29] up to mixed integer linear programming models (MILP) [30,31].…”

Section: Introductionmentioning

confidence: 99%

Sizing and Management of Energy Storage Systems in Large-Scale Power Plants Using Price Control and Artificial Intelligence

et al. 2021

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Energy storage systems are expected to play a fundamental part in the integration of increasing renewable energy sources into the electric system. They are already used in power plants for different purposes, such as absorbing the effect of intermittent energy sources or providing ancillary services. For this reason, it is imperative to research managing and sizing methods that make power plants with storage viable and profitable projects. In this paper, a managing method is presented, where particle swarm optimisation is used to reach maximum profits. This method is compared to expert systems, proving that the former achieves better results, while respecting similar rules. The paper further presents a sizing method which uses the previous one to make the power plant as profitable as possible. Finally, both methods are tested through simulations to show their potential.

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“…Strategies to solve the arbitrage problem are shown in [26]. They range from simple linear programming (LP) [27][28][29] up to mixed integer linear programming models (MILP) [30,31].…”

Section: Introductionmentioning

confidence: 99%

Sizing and Management of Energy Storage Systems in Large-Scale Power Plants Using Price Control and Artificial Intelligence

et al. 2021

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show abstract

“…Reference [10] presents an energy arbitrage scheduling algorithm for electric vehicles (EVs) under a real‐time pricing scheme with uncertainty and evaluates also the battery degradation. Reference [11] investigates arbitrage operation of an energy storage facility in Alberta electricity market. In contrast to other recent works in the field, this paper considers layering grid balancing services; including FFR (dynamic and non‐dynamic) and EFR in the UK, while scheduling throughout the day for energy arbitrage in order to maximise the system's availability and profitability.…”

Section: Introductionmentioning

confidence: 99%

Battery energy management strategies for UK firm frequency response services and energy arbitrage

Gundogdu

Gladwin

Stone

2019

J. eng.

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Economic viability of price arbitrage operation of vanadium redox battey in Alberta's energy market

Cited by 2 publications

References 0 publications

Sizing and Management of Energy Storage Systems in Large-Scale Power Plants Using Price Control and Artificial Intelligence

Sizing and Management of Energy Storage Systems in Large-Scale Power Plants Using Price Control and Artificial Intelligence

Battery energy management strategies for UK firm frequency response services and energy arbitrage

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