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arXiv · 1701.08472

Assessing the Economics of Customer-Sited Multi-Use Energy Storage

Wuhua Hu·Ping Wang·Hoay Beng Gooi
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Abstract

This paper presents an approach to assess the economics of customer-sited energy storage systems (ESSs) which are owned and operated by a customer. The ESSs can participate in frequency regulation and spinning reserve markets, and are used to help the customer consume available renewable energy and reduce electricity bill. A rolling-horizon approach is developed to optimize the service schedule, and the resulting costs and revenues are used to assess economics of the ESSs. The economic assessment approach is illustrated with case studies, from which we obtain some new observations on profitability of the customer- sited multi-use ESSs.

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Wuhua Hu, Ping Wang, Hoay Beng Gooi. 2017-01-30. Assessing the Economics of Customer-Sited Multi-Use Energy Storage. https://arxiv.org/abs/1701.08472

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