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A management system for energy storage

Author

Listed:
  • Xu, Jianxi
  • Zeng, Jiabing
  • Huang, Jinyong

Abstract

The growing adoption of renewable energy systems has created business opportunities for battery energy storage. Analytical tools and approaches to model the costs and benefits of energy storage have proliferated with the rapid growth in battery energy storage. This paper proposes a management system for energy storage (MSES) to analyze the costs and net benefits of battery energy storage. This paper establishes a general analysis model to describe the cost components of energy storage and define sources of battery energy storage benefits. Compared to traditional tools like Microsoft Excel used to compute the value of battery energy storage, results show that the proposed MESE is more friendly and more efficient in computation speed and operation. Furthermore, the comparison of the final evaluation results between MESE and the traditional tool confirms the validity of MESE.

Suggested Citation

  • Xu, Jianxi & Zeng, Jiabing & Huang, Jinyong, 2024. "A management system for energy storage," Applied Energy, Elsevier, vol. 368(C).
    • Handle: RePEc:eee:appene:v:368:y:2024:i:c:s0306261924008171
    DOI: 10.1016/j.apenergy.2024.123434
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    References listed on IDEAS

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    1. Carlo Alberto Magni, 2010. "Purely Internal Rate of Return and Investment Decisions: A Cash-Flow Perspective," Proyecciones Financieras y Valoración 7285, Master Consultores.
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    3. Md Masud Rana & Mohamed Atef & Md Rasel Sarkar & Moslem Uddin & GM Shafiullah, 2022. "A Review on Peak Load Shaving in Microgrid—Potential Benefits, Challenges, and Future Trend," Energies, MDPI, vol. 15(6), pages 1-17, March.
    4. Gaurav Chaudhary & Jacob J. Lamb & Odne S. Burheim & Bjørn Austbø, 2021. "Review of Energy Storage and Energy Management System Control Strategies in Microgrids," Energies, MDPI, vol. 14(16), pages 1-26, August.
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