Economic Comparison between Battery and Supercapacitor for Hourly Dispatching Wave Energy Converter Power

This paper demonstrates a dispatching scheme of slider-crank wave energy converter (WEC) power generation using two different kinds of energy storage components, namely, Lithium-ion (Li-ion) battery and Supercapacitors (SC). The performance of the two energy storage components has been compared in order to develop the most economical energy storage system for WEC hourly dispatching scheme. The cost optimization of the energy storage system considering both cycling and calendar aging expenses is made based on its usage of depth of discharge. In this study, extensive simulation is conducted in MATLAB/Simulink platform, and it is found that SC is a better solution than Li-ion battery in terms of economic assessment for hourly dispatching WEC power.

Automated summary

This study compares the performance of Lithium-ion battery and Supercapacitors in order to determine the most economical energy storage system for hourly dispatching power generation of slider-crank wave energy converter (WEC). Extensive simulation in MATLAB/Simulink platform shows that Supercapacitors are a better solution than Lithium-ion battery in terms of economic assessment for WEC power generation.