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A New Battery Energy Storage Charging/Discharging Scheme for Wind Power Producers in Real-Time Markets
Seoul National University, Gwanak-ro 599, Gwanak-gu, Seoul 151-744, Korea
* Author to whom correspondence should be addressed.
Received: 12 September 2012; in revised form: 2 November 2012 / Accepted: 7 December 2012 / Published: 19 December 2012
Abstract: Under a deregulated environment, wind power producers are subject to many regulation costs due to the intermittence of natural resources and the accuracy limits of existing prediction tools. This paper addresses the operation (charging/discharging) problem of battery energy storage installed in a wind generation system in order to improve the value of wind power in the real-time market. Depending on the prediction of market prices and the probabilistic information of wind generation, wind power producers can schedule the battery energy storage for the next day in order to maximize the profit. In addition, by taking into account the expenses of using batteries, the proposed charging/discharging scheme is able to avoid the detrimental operation of battery energy storage which can lead to a significant reduction of battery lifetime, i.e., uneconomical operation. The problem is formulated in a dynamic programming framework and solved by a dynamic programming backward algorithm. The proposed scheme is then applied to the study cases, and the results of simulation show its effectiveness.
Keywords: real-time market; real-time price; deregulated market; wind power; battery energy storage; charging/discharging scheme
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Cite This Article
MDPI and ACS Style
Nguyen, M.Y.; Nguyen, D.H.; Yoon, Y.T. A New Battery Energy Storage Charging/Discharging Scheme for Wind Power Producers in Real-Time Markets. Energies 2012, 5, 5439-5452.
Nguyen MY, Nguyen DH, Yoon YT. A New Battery Energy Storage Charging/Discharging Scheme for Wind Power Producers in Real-Time Markets. Energies. 2012; 5(12):5439-5452.
Nguyen, Minh Y.; Nguyen, Dinh H.; Yoon, Yong T. 2012. "A New Battery Energy Storage Charging/Discharging Scheme for Wind Power Producers in Real-Time Markets." Energies 5, no. 12: 5439-5452.