Assigning value to energy storage systems at multiple points in an electrical grid

Balducci, Patrick J.; Alam, M. Jan E.; Hardy, Trevor D.; Wu, Di

doi:10.1039/C8EE00569A

Assigning value to energy storage systems at multiple points in an electrical grid

Journal Article · Sun Dec 31 23:00:00 EST 2017 · Energy & Environmental Science

DOI:https://doi.org/10.1039/C8EE00569A· OSTI ID:1440273

Balducci, Patrick J. ^[1]; Alam, M. Jan E. ^[1]; Hardy, Trevor D. ^[1]; Wu, Di ^[1]

Pacific Northwest National Laboratory, Richland, USA

This article presents a taxonomy for assigning benefits to the services provided by energy storage systems (ESSs), defines approaches for monetizing the value associated with these services, assigns values to major ESS applications by region based on a review of an extensive set of literature, and summarizes and evaluates the capabilities of several tools currently used to estimate value for specific ESS deployments.

Sponsoring Organization:: USDOE

Grant/Contract Number:: AC05-76RL01830

OSTI ID:: 1440273

Alternate ID(s):: OSTI ID: 1495025

Journal Information:: Energy & Environmental Science, Journal Name: Energy & Environmental Science Journal Issue: 8 Vol. 11; ISSN EESNBY; ISSN 1754-5692

Publisher:: Royal Society of Chemistry (RSC)Copyright Statement

Country of Publication:: United Kingdom

Language:: English

References (7)

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Estimating the value of electricity storage in PJM: Arbitrage and some welfare effects Sioshansi, Ramteen; Denholm, Paul; Jenkin, Thomas Energy Economics, Vol. 31, Issue 2 https://doi.org/10.1016/j.eneco.2008.10.005	journal	March 2009
Economics of electric energy storage for energy arbitrage and regulation in New York Walawalkar, Rahul; Apt, Jay; Mancini, Rick Energy Policy, Vol. 35, Issue 4 https://doi.org/10.1016/j.enpol.2006.09.005	journal	April 2007
Microgrid reliability modeling and battery scheduling using stochastic linear programming Cardoso, G.; Stadler, M.; Siddiqui, A. Electric Power Systems Research, Vol. 103 https://doi.org/10.1016/j.epsr.2013.05.005	journal	October 2013
Regulatory Policy and Markets for Energy Storage in North America Kintner-Meyer, Michael Proceedings of the IEEE, Vol. 102, Issue 7 https://doi.org/10.1109/JPROC.2014.2319243	journal	July 2014
Energy storage for the electricity grid : benefits and market potential assessment guide : a study for the DOE Energy Storage Systems Program. Eyer, James M.; Corey, Garth P. https://doi.org/10.2172/1031895 SAND2010-0815	report	February 2010
DOE/EPRI Electricity Storage Handbook in Collaboration with NRECA. Akhil, Abbas; Huff, Georgianne; Currier, Aileen https://doi.org/10.2172/1170618	report	February 2015

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