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arXiv · 2407.20038

Optimal Control of a Battery Storage On the Energy Market

Stephan Schlüter·Abhinav Das·Mathew Davison
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Abstract

Electricity storage is crucial for a successful transition towards carbon-neutral energy production. Despite considerable research and a number of promising future alternatives such as hydrogen, battery storages currently remain the first choice. However, costs remain high and it remains to be shown whether an investment can be profitable. This article addresses this question by modelling a battery storage operating in the German power market. We consider two periods with very distinct price dynamics, namely a calm year (2020) and a turbulent year (2023). It shows that even for low battery costs a 2020 style price environment does not allow for profitable battery operation, whereas current market conditions allow for positive payoffs.

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Stephan Schlüter, Abhinav Das, Mathew Davison. 2024-07-29. Optimal Control of a Battery Storage On the Energy Market. https://doi.org/10.1109/icpsasia61913.2024.10761266

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