Journal
CELL REPORTS PHYSICAL SCIENCE
Volume 1, Issue 11, Pages -Publisher
CELL PRESS
DOI: 10.1016/j.xcrp.2020.100238
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Funding
- Bavarian Ministry of Economic Affairs, Energy, and Technology [IUK-1711-0035, DIK-1908-0008]
- Bayern Innovativ
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The ability of a battery energy storage system (BESS) to serve multiple applications makes it a promising technology to enable the sustainable energy transition. However, high investment costs are a considerable barrier to BESS deployment, and few profitable application scenarios exist at present. Here, we show that by tapping into multiple revenue streams using the dynamic stacking of applications, profitable operation is viable under current regulatory conditions. We develop a multi-use optimization framework which distinguishes between behind-the-meter and in-front-of-the-meter applications and considers how power capacity is allotted in addition to energy capacity allocation. The algorithm uses a rolling horizon optimization with an integrated degradation model and is fed with real-world data from a stationary lithium-ion battery in Germany. When combining peak shaving with frequency containment reserve, a net present value per Euro invested of 1.00 is achieved, and 1.24 with the addition of arbitrage trading on the intraday continuous market.
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