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Processes 2018, 6(10), 204; https://doi.org/10.3390/pr6100204

Effect of Tariff Policy and Battery Degradation on Optimal Energy Storage

Instituto de Ingeniería Química, Facultad de Ingeniería, Universidad de la República, Montevideo 11300, Uruguay
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Received: 15 September 2018 / Revised: 19 October 2018 / Accepted: 19 October 2018 / Published: 22 October 2018
(This article belongs to the Special Issue Modeling and Simulation of Energy Systems)
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Abstract

In the context of an increasing participation of renewable energy in the electricity market, demand response is a strategy promoted by electricity companies to balance the non-programmable supply of electricity with its usage. Through the use of differential electricity prices, a switch in energy consumption patterns is stimulated. In recent years, energy self-storage in batteries has been proposed as a way to take advantage of differential prices without a major disruption in daily routines. Although a promising solution, charge and discharge cycles also degrade batteries, thus expected savings in the energy bill may actually be non-existent if these savings are counterbalanced by the capacity lost by the battery. In this work a convex optimization problem that finds the operating schedule for a battery and includes the effects of current-induced degradation is presented. The goal is to have a tool that facilitates for a consumer the evaluation of the convenience of installing a battery-based energy storage system under different but given assumptions of electricity and battery prices. The problem is solved assuming operation of a commercial Li-ion under two very different yet representative electricity pricing policies. View Full-Text
Keywords: demand response; energy management; energy storage; optimal battery operation; battery degradation demand response; energy management; energy storage; optimal battery operation; battery degradation
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Corengia, M.; Torres, A.I. Effect of Tariff Policy and Battery Degradation on Optimal Energy Storage. Processes 2018, 6, 204.

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