Challenges to a full energy storage optimisation

Karl Petter Hartwig, Ivana Kockar, Simon Gill, David McMillan

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.
Original languageEnglish
Publication statusPublished - 26 Nov 2014
EventUK energy storage conference - University of Warwick, Warwick, United Kingdom
Duration: 25 Nov 201427 Nov 2015

Conference

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

Keywords

  • energy storage
  • optimisation methods

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