Potential value of energy storage in the UK electricity system

Teng, Fei; Pudjianto, Danny; Štrbac, Goran; Brandon, Nigel; Thomson, Alan; Miles, John M.

doi:10.1680/ener.14.00033

Cited by 18 publications

(26 citation statements)

References 13 publications

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“…The generation mix is shown in Fig. 3, while the technical, economic and emission characteristics of generation technologies as well as fuel and carbon prices are adopted from [7]. The energy prices, imbalance prices and FR prices are calculated based on the above assumption by using the advanced stochastic unit commitment model, while the payment from capacity market is assumed to be 80 £/kW per year.…”

Section: Case Studiesmentioning

confidence: 99%

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Business cases for energy storage with multiple service provision

Teng

Štrbac

2016

J. Mod. Power Syst. Clean Energy

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Energy storage (ES) has been considered as the key source of flexibility to support the integration of renewable energy. Previous studies have demonstrated the substantial system cost savings by the deployment of ES, including both investment and operation of generation, transmission and distribution infrastructure. However, this societal benefit may not be realized if industry actors do not have a viable business case to appropriately capture these multiple value streams. In this context, this paper investigates the value that ES may deliver to its owner over two specific business cases in a 2030 UK system. Firstly, the application of large-scale ES in the wholesale market is analysed. It is demonstrated that the optimal allocation of ES to provide multiple services is the key element for ES to become competitive in the electricity market. In the second business case, this paper analyses the value of kilowattscale ES combined with roof photovoltaic (PV) system in the household and community level. The study shows that multiple service provision of ES through advanced pricing schemes, for example time-of-use (ToU) tariff and dynamic distribution use of system (DUoS), lead to higher value and the coordination in the community level could further justify the application of domestic ES.

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Section: Case Studiesmentioning

confidence: 99%

“…Stochastic approach is applied in [6] to quantify the value of ES under wind uncertainty. The impact of the increased renewable energy on the volatility of the market prices and hence the value of ES is discussed in [7,8]. Further, the application of ES in distribution network is reviewed in [9].…”

Section: Introductionmentioning

confidence: 99%

Business cases for energy storage with multiple service provision

Teng

Štrbac

2016

J. Mod. Power Syst. Clean Energy

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“…These studies have considered many different more detailed objectives; these range from the sizing and control of storage facilities co-located with the renewable generation so as to provide a smoother supply and so offset the need for network reinforcement [13,14,15], to studies on storage embedded within transmission networks so as to increase wind power utilisation and so reduce overall generation costs [16,17,18]. In addition there have been a number of studies into the more general use of storage for buffering, for example, so as to provide fast frequency response to power networks [19,20,12], or to provide quality of service as part of a microgrid [21,22].…”

Section: Introductionmentioning

confidence: 99%

The Optimal Control of Storage for Arbitrage and Buffering, with Energy Applications

Cruise

Zachary

2018

Springer Proceedings in Mathematics &Amp; Statistics

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We study the optimal control of storage which is used for both arbitrage and buffering against unexpected events, with particular applications to the control of energy systems in a stochastic and typically time-heterogeneous environment. Our philosophy is that of viewing the problem as being formally one of stochastic dynamic programming, but of using coupling arguments to provide good estimates of the costs of failing to provide necessary levels of buffering. The problem of control then reduces to that of the solution, dynamically in time, of a deterministic optimisation problem which must be periodically re-solved. We show that the optimal control then proceeds locally in time, in the sense that the optimal decision at each time t depends only on a knowledge of the future costs and stochastic evolution of the system for a time horizon which typically extends only a little way beyond t. The approach is thus both computationally tractable and suitable for the management of systems over indefinitely extended periods of time. We develop also the associated strong Lagrangian theory (which may be used to assist in the optimal dimensioning of storage), and we provide characterisations of optimal control policies. We give examples based on Great Britain electricity price data.

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“…Furthermore, the energy storage systems to support the distribution grid has been widely studied [4]. Grid-connected microgrids with BESS in a different configuration and under consideration of time-of-use tariffs got more attention [5,6]. The BESS studies in terms of self-consumption based on demand forecasting have been studied in [7][8][9][10][11][12]13].…”

Section: Introductionmentioning

confidence: 99%

Optimal storage operation with flexible tariff under consideration of sector coupling and renewable energy sources in a new settlement area

Tayyab¹,

Hauer²,

Kärgel³

et al. 2019

Proceedings of the 13th International Renewable Energy Storage Conference 2019 (IRES 2019)

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Energy storages are important to manage the high amount of electricity generation from renewable energy sources in microgrids. Furthermore, the economic benefits of battery energy storage (BESS) such as self-consumption maximization have proven its feasibility. In the present paper, a settlement area with photovoltaic and storage systems is investigated, where electrical loads including the heating load profile by using a heat pump. Different battery operation strategies have been analyzed and compared under consideration of the Brazilian white tariffs with the goal to decrease the grid supply. For this purpose, linear programming has been used. The results have been compared with the flat electricity tariffs to analyze the white tariffs effect on these types of systems. The result shows a significant increase in profit using white tariff. However, considering the investment cost of the battery, 5 years of payback time is required.

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Potential value of energy storage in the UK electricity system

Cited by 18 publications

References 13 publications

Business cases for energy storage with multiple service provision

Business cases for energy storage with multiple service provision

The Optimal Control of Storage for Arbitrage and Buffering, with Energy Applications

Optimal storage operation with flexible tariff under consideration of sector coupling and renewable energy sources in a new settlement area

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