Journal
IEEE TRANSACTIONS ON SUSTAINABLE ENERGY
Volume 7, Issue 2, Pages 685-696Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TSTE.2015.2497470
Keywords
Battery; economic dispatch; energy storage; flexible resources; integer programming; power system economics; power system reliability; real-time operation; renewable resources; stochastic unit commitment
Categories
Funding
- Department of Energy under DOE [DE-AC02-06CH11357]
- Power Systems Engineering Research Center (PSERC)
- University of Chicago Booth School of Business
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The fast growing expansion of renewable energy increases the complexities in balancing generation and demand in the power system. The energy-shifting and fast-ramping capability of energy storage has led to increasing interests in batteries to facilitate the integration of renewable resources. In this paper, we present a two-step framework to evaluate the potential value of energy storage in power systems with renewable generation. First, we formulate a stochastic unit commitment approach with wind power forecast uncertainty and energy storage. Second, the solution from the stochastic unit commitment is used to derive a flexible schedule for energy storage in economic dispatch where the look-ahead horizon is limited. Analysis is conducted on the IEEE 24-bus system to demonstrate the benefits of battery storage in systems with renewable resources and the effectiveness of the proposed battery operation strategy.
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