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

Abstract

The ability to define the potential value that energy storage systems (ESS) could generate through various applications in electric power systems, and an understanding of how these values change due to variations in locations, ESS performance and parameters, market structure, utility structures, and valuation methodologies is highly important in advancing ESS deployment. This paper presents the outcome of an effort to assign benefits values, or more precisely ranges of values, to major ESS applications, and summarize and evaluate the capabilities of several available tools currently used to estimate value for specific ESS deployments.

Authors:
 [1];  [1];  [1];  [1]
  1. Pacific Northwest National Laboratory; Richland; USA
Publication Date:
Research Org.:
Pacific Northwest National Lab. (PNNL), Richland, WA (United States)
Sponsoring Org.:
USDOE
OSTI Identifier:
1495025
Report Number(s):
PNNL-SA-130624
Journal ID: ISSN 1754-5692; EESNBY
DOE Contract Number:  
AC05-76RL01830
Resource Type:
Journal Article
Journal Name:
Energy & Environmental Science
Additional Journal Information:
Journal Volume: 11; Journal Issue: 8; Journal ID: ISSN 1754-5692
Publisher:
Royal Society of Chemistry
Country of Publication:
United States
Language:
English
Subject:
energy storage valuation, balducci, energy storage models

Citation Formats

Balducci, Patrick J., Alam, M. Jan E., Hardy, Trevor D., and Wu, Di. Assigning value to energy storage systems at multiple points in an electrical grid. United States: N. p., 2018. Web. doi:10.1039/C8EE00569A.
Balducci, Patrick J., Alam, M. Jan E., Hardy, Trevor D., & Wu, Di. Assigning value to energy storage systems at multiple points in an electrical grid. United States. doi:10.1039/C8EE00569A.
Balducci, Patrick J., Alam, M. Jan E., Hardy, Trevor D., and Wu, Di. Mon . "Assigning value to energy storage systems at multiple points in an electrical grid". United States. doi:10.1039/C8EE00569A.
@article{osti_1495025,
title = {Assigning value to energy storage systems at multiple points in an electrical grid},
author = {Balducci, Patrick J. and Alam, M. Jan E. and Hardy, Trevor D. and Wu, Di},
abstractNote = {The ability to define the potential value that energy storage systems (ESS) could generate through various applications in electric power systems, and an understanding of how these values change due to variations in locations, ESS performance and parameters, market structure, utility structures, and valuation methodologies is highly important in advancing ESS deployment. This paper presents the outcome of an effort to assign benefits values, or more precisely ranges of values, to major ESS applications, and summarize and evaluate the capabilities of several available tools currently used to estimate value for specific ESS deployments.},
doi = {10.1039/C8EE00569A},
journal = {Energy & Environmental Science},
issn = {1754-5692},
number = 8,
volume = 11,
place = {United States},
year = {2018},
month = {1}
}

Works referenced in this record:

Regulatory Policy and Markets for Energy Storage in North America
journal, July 2014


Economics of electric energy storage for energy arbitrage and regulation in New York
journal, April 2007


Estimating the value of electricity storage in PJM: Arbitrage and some welfare effects
journal, March 2009


Microgrid reliability modeling and battery scheduling using stochastic linear programming
journal, October 2013


Economic viability of energy storage systems based on price arbitrage potential in real-time U.S. electricity markets
journal, February 2014