Economic Evaluation of Energy Arbitrage of Battery Energy Storage According to its Operation regime

Document Type : Original Article

Authors

Faculty of Electrical and Computer Engineering, University of Birjand, Birjand, Iran

Abstract

In recent years, the exploitation of the energy storage systems has attracted many researchers in the electricity industry. Due to the relatively high cost of storage, usually many investors are not being prevented from installing and operating in a power system. In this paper, the effect of the type of operation of the energy storage system (the whole year or part of the year) on the profit of the energy arbitrage (shift) in the electricity market is investigated by an electrical energy storage system. For Evaluation the effect of the price prediction error on the energy arbitrage revenue, two types of prices (real price, 3 Hour Ahead Predispatch Prices) have been used. Due to the encouragement of private investors, it is proposed to use the loan for the initial investment cost so that the proposed plan for the investor is economically justified. Due to high investment costs and longer lifespan of the energy storage system, the number of charging and discharging energy is one, which is the time of charging at the lowest cost of energy and the time of discharge at the highest energy cost to increase energy returns.

Keywords

References

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TABRIZ JOURNAL OF ELECTRICAL ENGINEERING
Volume 49, Issue 3 - Serial Number 89
December 2019
Pages 1295-1306

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