6533b821fe1ef96bd127c516
RESEARCH PRODUCT
Autonomous Operation of Stationary Battery Energy Storage Systems—Optimal Storage Design and Economic Potential
Bernhard FaesslerAleksander Bogunović Jakobsensubject
Battery (electricity)Control and Optimizationbusiness.product_categoryoptimal storage design020209 energyEnergy Engineering and Power Technologyeconomic potential02 engineering and technology010501 environmental scienceslcsh:Technology01 natural sciencesStandard deviationfluctuating electric supply and demandElectrificationElectric vehicle0202 electrical engineering electronic engineering information engineeringEconometricsVDP::Matematikk og Naturvitenskap: 400::Geofag: 450Electrical and Electronic EngineeringEngineering (miscellaneous)0105 earth and related environmental sciencesday-ahead stock market priceautonomous optimizationlcsh:TRenewable Energy Sustainability and the Environmentbusiness.industryChangeoverRenewable energyIncentiveEnvironmental scienceElectricitybattery energy storage systemsbusinessEnergy (miscellaneous)description
Global warming requires a changeover from fossil fuel based to renewable energy sources on the electrical supply side and electrification of the demand side. Due to the transient nature of renewables and fluctuating demand, buffer capacities are necessary to compensate for supply/demand imbalances. Battery energy storage systems are promising. However, the initial costs are high. Repurposing electric vehicle batteries can reduce initial costs. Further, storage design optimization could significantly improve costs. Therefore, a battery control algorithm was developed, and a simulation study was performed to identify the optimal storage design and its economic potential. The algorithm used is based on autonomous (on-site) optimization, which relies on an incentive determining the operation mode (charge, discharge, or idle). The incentive used was the historic day-ahead stock market price for electricity, and the resulting potential economic gains for different European countries were compared for the years 2015–2019. This showed that there is a correlation between economic gain, optimal storage design (capacity-to-power ratio), and the mean standard deviation, as well as the mean relative change of the different day-ahead prices. Low yearly mean standard deviations of about 0.5 Euro Cents per kWh battery capacity lead to yearly earnings of about 1 €/kWh, deviations of 1 Euro Cent to 10 €/kWh, and deviations of 2 Euro Cents to 20 €/kWh. Small yearly mean relative changes, lower than 5%, lead to capacity-to-power ratios greater than 3, relative changes around 10% to an optimal capacity-to-power between 1.5 and 3, and for relative changes greater than 10% to an optimal capacity-to-power ratios of 1. While in countries like the United Kingdom, high potential earnings are expected, the economic prospective in countries like Norway is low due to limited day-ahead price performance.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2021-03-01 |