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Economic Optimal Operation of Community Energy Storage Systems in Competitive Energy Markets

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Listed:
  • Reza Arghandeh
  • Jeremy Woyak
  • Ahmet Onen
  • Jaesung Jung
  • Robert P. Broadwater

Abstract

Distributed, controllable energy storage devices offer several benefits to electric power system operation. Three such benefits include reducing peak load, providing standby power, and enhancing power quality. These benefits, however, are only realized during peak load or during an outage, events that are infrequent. This paper presents a means of realizing additional benefits by taking advantage of the fluctuating costs of energy in competitive energy markets. An algorithm for optimal charge/discharge scheduling of community energy storage (CES) devices as well as an analysis of several of the key drivers of the optimization are discussed.

Suggested Citation

  • Reza Arghandeh & Jeremy Woyak & Ahmet Onen & Jaesung Jung & Robert P. Broadwater, 2014. "Economic Optimal Operation of Community Energy Storage Systems in Competitive Energy Markets," Papers 1407.0433, arXiv.org, revised Sep 2014.
    • Handle: RePEc:arx:papers:1407.0433
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