Feasibility of a battery storage system for a renewable energy park operating with price arbitrage

Daggett, Adam, Qadrdan, Meysam ORCID: https://orcid.org/0000-0001-6167-2933 and Jenkins, Nicholas ORCID: https://orcid.org/0000-0003-3082-6260 2019. Feasibility of a battery storage system for a renewable energy park operating with price arbitrage. Presented at: 2017 IEEE PES Innovative Smart Grid Technologies Conference Europe (ISGT-Europe), Torino, Italy, 26-29 September 2017. IEEE PES Innovative Smart Grid Technologies Conference Europe (ISGT-Europe). Piscataway, NJ: IEEE, 10.1109/ISGTEurope.2017.8260249

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Abstract

The employment of battery storage is recognized to be a solution for managing the variability of renewable energy sources in power systems. In this paper the feasibility of integrating a battery energy storage system (BESS) into a renewable energy park was investigated. The energy park consists of three wind turbines with a total generating capacity of 6MW and 2MW of solar photovoltaic panels. A maximum power export limit of 5 MW to the grid is enforced. The optimal size of the BESS was calculated to maximize the profit made by the energy park through participating in the electricity spot market. To do this, a linear optimization model embedded within a net present cash flow approach was developed. Optimal size of the battery storage capacity and optimal power rating of the inverter for different battery costs assumptions were examined.

Item Type:	Conference or Workshop Item (Paper)
Date Type:	Publication
Status:	Published
Schools:	Engineering
Publisher:	IEEE
ISBN:	978-1-5386-1953-7
Last Modified:	24 Oct 2022 07:12
URI:	https://orca.cardiff.ac.uk/id/eprint/114325

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