Challenges to a full energy storage optimisation

Research output: Contribution to conferencePoster

Abstract

A large proportion of the analyses of Energy Storage (ES) in electricity markets utilises linear and non-linear optimisation to evaluate possible returns for investors and impact on power system operation. While such formulations commonly include simplified characteristics of ES roundtrip efficiencies and self-discharge, the effects of storage operation on asset lifetime tends to be ignored. Sophisticated physical models are infeasible to incorporate into large-scale optimisation models from a computational point of view. However there is scope for significant improvements in the decision models by considering simplified representation of aging effects. This work proposes to include a cost function for battery degradation linked to a number of constraints to account for such effects in the ES scheduling.

Conference

ConferenceUK energy storage conference
CountryUnited Kingdom
CityWarwick
Period25/11/1427/11/15

Fingerprint

Energy storage
Cost functions
Aging of materials
Scheduling
Degradation
Power markets

Keywords

  • energy storage
  • optimisation methods

Cite this

Hartwig, K. P., Kockar, I., Gill, S., & McMillan, D. (2014). Challenges to a full energy storage optimisation. Poster session presented at UK energy storage conference, Warwick, United Kingdom.
Hartwig, Karl Petter ; Kockar, Ivana ; Gill, Simon ; McMillan, David. / Challenges to a full energy storage optimisation. Poster session presented at UK energy storage conference, Warwick, United Kingdom.
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title = "Challenges to a full energy storage optimisation",
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author = "Hartwig, {Karl Petter} and Ivana Kockar and Simon Gill and David McMillan",
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note = "UK energy storage conference ; Conference date: 25-11-2014 Through 27-11-2015",

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Hartwig, KP, Kockar, I, Gill, S & McMillan, D 2014, 'Challenges to a full energy storage optimisation' UK energy storage conference, Warwick, United Kingdom, 25/11/14 - 27/11/15, .

Challenges to a full energy storage optimisation. / Hartwig, Karl Petter; Kockar, Ivana; Gill, Simon; McMillan, David.

2014. Poster session presented at UK energy storage conference, Warwick, United Kingdom.

Research output: Contribution to conferencePoster

TY - CONF

T1 - Challenges to a full energy storage optimisation

AU - Hartwig, Karl Petter

AU - Kockar, Ivana

AU - Gill, Simon

AU - McMillan, David

PY - 2014/11/26

Y1 - 2014/11/26

N2 - A large proportion of the analyses of Energy Storage (ES) in electricity markets utilises linear and non-linear optimisation to evaluate possible returns for investors and impact on power system operation. While such formulations commonly include simplified characteristics of ES roundtrip efficiencies and self-discharge, the effects of storage operation on asset lifetime tends to be ignored. Sophisticated physical models are infeasible to incorporate into large-scale optimisation models from a computational point of view. However there is scope for significant improvements in the decision models by considering simplified representation of aging effects. This work proposes to include a cost function for battery degradation linked to a number of constraints to account for such effects in the ES scheduling.

AB - A large proportion of the analyses of Energy Storage (ES) in electricity markets utilises linear and non-linear optimisation to evaluate possible returns for investors and impact on power system operation. While such formulations commonly include simplified characteristics of ES roundtrip efficiencies and self-discharge, the effects of storage operation on asset lifetime tends to be ignored. Sophisticated physical models are infeasible to incorporate into large-scale optimisation models from a computational point of view. However there is scope for significant improvements in the decision models by considering simplified representation of aging effects. This work proposes to include a cost function for battery degradation linked to a number of constraints to account for such effects in the ES scheduling.

KW - energy storage

KW - optimisation methods

M3 - Poster

ER -

Hartwig KP, Kockar I, Gill S, McMillan D. Challenges to a full energy storage optimisation. 2014. Poster session presented at UK energy storage conference, Warwick, United Kingdom.