A Stochastic Dynamic Programming Model for Co-optimization of Distributed Energy Storage

  title={A Stochastic Dynamic Programming Model for Co-optimization of Distributed Energy Storage},
  author={Xiaomin Xi and Ramteen Sioshansi},
We develop a stochastic dynamic programming model that cooptimizes the use of energy storage for multiple applications, such as energy, capacity, and backup services, while accounting for market and system uncertainty. Using the example of a battery that has been installed in a home as a distributed storage device, we demonstrate the ability of the model to co-optimize services that ‘compete’ for the capacity of the battery. We also show that these multiple uses of a battery can provide… CONTINUE READING
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