Optimal Bidding Strategy of Battery Storage in Power Markets Considering Performance-Based Regulation and Battery Cycle Life

He, Guannan; Chen, Qixin; Chen, Kang; Pinson, Pierre; Xia, Qing

doi:10.1109/tsg.2015.2424314

Cited by 405 publications

(241 citation statements)

References 21 publications

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“…Shelf degradation corresponds to the normal corrosion process, which is independent of its cycling behavior, and thus regarded as a constant [8]. Cycle degradation corresponds to the cycle regime, as discussed in Section 3.1.…”

Section: Modelingmentioning

confidence: 99%

“…First, equation (1) is transformed to (8) and (9). Then, DP cy t can be replaced by DP cy0 t by adding (10) and (11).…”

Section: Linearizationmentioning

confidence: 99%

“…In China, a 14 MW lithiumion phosphate battery and a 2 MW vanadium redox flow battery have been built in Zhangbei National Wind and Solar Energy Storage and Transmission Demonstration Project. Recent research efforts have focused on how to coordinate the wind power with BESS for multiple objectives, such as smoothing power fluctuations [4,5], energy arbitrage [6], regulation [7], and other ancillary services [8,9].…”

Section: Introductionmentioning

confidence: 99%

“…Reference [17] builds a battery degradation cost model in a short-term scheduling problem, and proposes a big-M linearization method for degradation calculation. Reference [8] considers degradation cost for battery bidding in the ancillary service market, and solves it by nonlinear solvers.…”

Section: Introductionmentioning

confidence: 99%

“…[17], or 100009DoD -k (k is a constant ranging from 0.8 to 2.1) [8]. Reference [30] presents a degradation map in terms of DoD and current rate.…”

Section: Introductionmentioning

confidence: 99%

See 4 more Smart Citations

Stochastic coordinated operation of wind and battery energy storage system considering battery degradation

Wang

Zhou

Botterud

et al. 2016

J. Mod. Power Syst. Clean Energy

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Grid-scale battery energy storage systems (BESSs) are promising to solve multiple problems for future power systems. Due to the limited lifespan and high cost of BESS, there is a cost-benefit trade-off between battery effort and operational performance. Thus, we develop a battery degradation model to accurately represent the battery degradation and related cost during battery operation and cycling. A linearization method is proposed to transform the developed battery degradation model into the mixed integer linear programming (MILP) optimization problems. The battery degradation model is incorporated with a hybrid deterministic/stochastic look-ahead rolling optimization model of wind-BESS bidding and operation in the real-time electricity market. Simulation results show that the developed battery degradation model is able to effectively help to extend the battery cycle life and make more profits for wind-BESS. Moreover, the proposed rolling look-ahead operational optimization strategy can utilize the updated wind power forecast, thereby also increase the wind-BESS profit.

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Section: Modelingmentioning

confidence: 99%

“…First, equation (1) is transformed to (8) and (9). Then, DP cy t can be replaced by DP cy0 t by adding (10) and (11).…”

Section: Linearizationmentioning

confidence: 99%