2020/01/06 by Zhongyang Zhao, Zhao, Zhongyang, Caisheng Wang +3
Energy · Engineering · #FOS: Electrical engineering #Microgrid Control and Optimization #Power Systems and Renewable Energy #Smart Grid Energy Management #Systems and Control (eess.SY) #electronic engineering #information engineering
paper · pdf · doi:10.48550/arxiv.2001.01771
openalex publication_date 2020/01/06 · openalex created_date 2021/10/25 · openalex updated_date 2026/07/28
The power system needs more transmission capacity to deal with the increasing integration of renewable energy resources. The battery energy storage systems (BESSs) are effective to enhance the grid capacity and relieve the transmission congestion. A comprehensive revenue analysis of BESSs is critical for market participants to install such systems in a market-based power system. Taking PJM as an example, this paper carries out a thorough revenue analysis for the entire system. Highly profitable nodes in the system are revealed and characterized for BESS participants. A comparison study of stationary and transportable BESSs shows the transportable energy storage can produce higher potential revenue in the energy and regulation markets. Based on the results of the revenue analysis and characterization of commercial pricing nodes, an optimal placement algorithm is proposed for finding the profitable sites for market participants to install BESSs in the system and the algorithm is validated with real PJM market data.