Effect of Tariff Policy and Battery Degradation on Optimal Energy Storage
AbstractIn 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
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Corengia, M.; Torres, A.I. Effect of Tariff Policy and Battery Degradation on Optimal Energy Storage. Processes 2018, 6, 204.
Corengia M, Torres AI. Effect of Tariff Policy and Battery Degradation on Optimal Energy Storage. Processes. 2018; 6(10):204.Chicago/Turabian Style
Corengia, Mariana; Torres, Ana I. 2018. "Effect of Tariff Policy and Battery Degradation on Optimal Energy Storage." Processes 6, no. 10: 204.
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