Generic modelling framework for economic analysis of battery systems

• Published in: IET Conference on Renewable Power Generation (RPG 2011) p. 122
• Main Authors: You, S, Rasmussen, C.N
• Format: Conference Proceeding
• Language: English
• Published: Stevenage IET 2011; The Institution of Engineering & Technology
• Subjects: Other power stations and plants; Power system management, operation and economics; Power system planning and layout; Secondary cells; generic modelling framework; economic viability; power generation planning; battery cycle life estimation; economic analysis; contingency reserve; voltage regulation; power generation economics; deregulated electricity market; rainflow cycle counting algorithm; sodium sulfur battery system; battery systems; ancillary service; battery storage plants; power markets
• ISBN: 1849195366; 9781849195362
• DOI: 10.1049/cp.2011.0147

Deregulated electricity markets provide opportunities for Battery Systems (BS) to participate in energy arbitrage and ancillary services (regulation, operating reserves, contingency reserves, voltage regulation, power quality etc.)To evaluate the economic viability of BS with different business opportunities, a generic modelling framework is proposed to handle this task. This framework outlines a set of building blocks which are necessary for carrying out the economic analysis of various BS applications. Further, special focus is given on describing how to use the rainflow cycle counting algorithm for battery cycle life estimation, since the cycle life plays a central role in the economic analysis of BS. To illustrate the modelling framework, a case study using a Sodium Sulfur Battery (NAS) system with 5-minute regulating service is performed. The economic performances of two dispatch scenarios, a so called naive scenario and a risk-averse scenario, are evaluated in this case study. (6 pages)