Market-Driven Energy Storage Planning for Microgrids with Renewable Energy Systems Using Stochastic Programming

@article{Habib2017MarketDrivenES,
  title={Market-Driven Energy Storage Planning for Microgrids with Renewable Energy Systems Using Stochastic Programming},
  author={Abdulelah H. Habib and V. Disfani and J. Kleissl and R. D. Callafon},
  journal={IFAC-PapersOnLine},
  year={2017},
  volume={50},
  pages={183-188}
}
Abstract Battery Energy Storage Systems (BESS) can mitigate effects of intermittent energy production from renewable energy sources and play a critical role in peak shaving and demand charge management. To optimally size the BESS from an economic perspective, the tradeoff between BESS investment costs, lifetime, and revenue from utility bill savings along with microgrid ancillary services must be taken into account. The optimal size of a BESS is solved via a stochastic optimization problem… Expand
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