Revenue Analysis of Stationary and Transportable Battery Storage for Power Systems: A Market Participant Perspective

Zhao, Zhongyang; Wang, Caisheng; Nazari, Masoud H.

doi:10.3390/su16062370

Title: Revenue Analysis of Stationary and Transportable Battery Storage for Power Systems: A Market Participant Perspective

Journal Article · 13 March 2024 · Sustainability (Basel)

DOI: https://doi.org/10.3390/su16062370 · OSTI ID:2345784

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Wayne State Univ., Detroit, MI (United States)

The power system faces a growing need for increased transmission capacity and reliability with the rising integration of renewable energy resources. To tackle this challenge, Battery Energy Storage Systems (BESSs) prove effective in enhancing grid capacity and relieving transmission congestion. This paper focuses on the PJM market, conducting a thorough revenue analysis to identify and characterize highly profitable nodes for BESS market participants. A comparison between stationary and transportable BESSs reveals that the transportable BESSs can generate higher potential revenue in energy and regulation markets. Based on these findings, we propose an optimal placement algorithm to support market participants in selecting strategic sites for BESS installation, validated with real PJM market data. This paper provides valuable insights for navigating market-based power system participants and promoting the effective integration of BESSs.

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Research Organization:: Wayne State Univ., Detroit, MI (United States)

Sponsoring Organization:: USDOE Office of Energy Efficiency and Renewable Energy (EERE), Renewable Power Office. Solar Energy Technologies Office

Grant/Contract Number:: EE0010413

OSTI ID:: 2345784

Report Number(s):: DOE-WSU-0010413-ZZ

Journal Information:: Sustainability (Basel), Vol. 16, Issue 6; ISSN 2071-1050

Publisher:: MDPICopyright Statement

Country of Publication:: United States

Language:: English

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25 ENERGY STORAGE
battery energy storage system
revenue analysis
optimal placement algorithm
transportable energy storage

Title: Revenue Analysis of Stationary and Transportable Battery Storage for Power Systems: A Market Participant Perspective

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