Sizing Energy Storage System for Energy Arbitrage in Extreme Fast Charging Station
This paper proposes a non-linear programming (NLP) model to optimally size the energy storage system (ESS) and obtain an optimal energy management for energy arbitrage of an extreme fast charging station (XFCS) for electric vehicles (EVs), with minimized total cost of XFCS operation and ESS investment. Different from most reported work on sizing the ESS for EV charging stations, this paper proposes a pragmatic approach to model the ESS life degradation and accurately count the ESS cycles. Moreover, this work incorporates the peak demand charges in the operational cost of the charging station which are often overlooked in the literature. The proposed model is formulated and solved using AIMMS. Finally, a thorough sensitivity analysis is performed to offer insights into how different input parameters impact the ESS sizing and savings from the energy arbitrage perspective.
- Research Organization:
- Missouri University of Science and Technology
- Sponsoring Organization:
- USDOE Office of Energy Efficiency and Renewable Energy (EERE), Office of Sustainable Transportation. Vehicle Technologies Office (VTO)
- DOE Contract Number:
- EE0008449
- OSTI ID:
- 1989651
- Journal Information:
- 2021 IEEE Power & Energy Society General Meeting (PESGM), Conference: 2021 IEEE Power & Energy Society General Meeting (PESGM), Washington, DC, USA, 26-29 July 2021
- Country of Publication:
- United States
- Language:
- English
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Sizing Energy Storage System for Energy Arbitrage in Extreme Fast Charging Station