Optimal Battery Energy Storage Dispatch in Energy and Frequency Regulation Markets While Peak Shaving an EV Fast Charging Station
Battery Energy Storage Systems typically procure their primary revenues from regulated energy and ancillary services markets; nonetheless, they have great potential in supporting distribution network operators and their users. This paper evaluates the potential business case of battery storage syste...
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
IEEE
2022-01-01
|
| Series: | IEEE Open Access Journal of Power and Energy |
| Subjects: | |
| Online Access: | https://ieeexplore.ieee.org/document/9855507/ |
| _version_ | 1797974425142820864 |
|---|---|
| author | Luca Argiolas Marco Stecca Laura M. Ramirez-Elizondo Thiago Batista Soeiro Pavol Bauer |
| author_facet | Luca Argiolas Marco Stecca Laura M. Ramirez-Elizondo Thiago Batista Soeiro Pavol Bauer |
| author_sort | Luca Argiolas |
| collection | DOAJ |
| description | Battery Energy Storage Systems typically procure their primary revenues from regulated energy and ancillary services markets; nonetheless, they have great potential in supporting distribution network operators and their users. This paper evaluates the potential business case of battery storage systems integrating market application and services to a photovoltaic assisted electric vehicle fast-charging station. A mathematical deterministic optimization problem is formulated using mixed-integer linear programming to combine battery storage system operation in the day-ahead and frequency regulation market and the remunerated services offered to the charging station. The technical and economic feasibility of the solution and the applicability of the proposed framework is verified through a case study reflecting an existing photovoltaic assisted charging station in the Netherlands and considering the Dutch energy market framework and prices. The study shows that such battery storage system implementation is economically and technically advantageous for the players involved. The battery storage system can stack additional revenues on top of the market revenues. The charging station benefits from a reduced peak power and a 30% tariff reduction, and the system operator would indirectly benefit from the shaved charging station profile. Furthermore, the analysis shows that providing services to the charging station from the battery storage system does not significantly impact its market-related revenues. |
| first_indexed | 2024-04-11T04:19:45Z |
| format | Article |
| id | doaj.art-9802eef15fc5451d85ae943272555b67 |
| institution | Directory Open Access Journal |
| issn | 2687-7910 |
| language | English |
| last_indexed | 2024-04-11T04:19:45Z |
| publishDate | 2022-01-01 |
| publisher | IEEE |
| record_format | Article |
| series | IEEE Open Access Journal of Power and Energy |
| spelling | doaj.art-9802eef15fc5451d85ae943272555b672022-12-31T00:01:39ZengIEEEIEEE Open Access Journal of Power and Energy2687-79102022-01-01937438510.1109/OAJPE.2022.31985539855507Optimal Battery Energy Storage Dispatch in Energy and Frequency Regulation Markets While Peak Shaving an EV Fast Charging StationLuca Argiolas0https://orcid.org/0000-0003-4235-5611Marco Stecca1https://orcid.org/0000-0001-7637-9553Laura M. Ramirez-Elizondo2https://orcid.org/0000-0001-5669-1769Thiago Batista Soeiro3https://orcid.org/0000-0002-8361-9110Pavol Bauer4https://orcid.org/0000-0002-1171-9972Electrical Sustainable Energy Department, Delft University of Technology, Delft, The NetherlandsElectrical Sustainable Energy Department, Delft University of Technology, Delft, The NetherlandsElectrical Sustainable Energy Department, Delft University of Technology, Delft, The NetherlandsElectrical Sustainable Energy Department, Delft University of Technology, Delft, The NetherlandsElectrical Sustainable Energy Department, Delft University of Technology, Delft, The NetherlandsBattery Energy Storage Systems typically procure their primary revenues from regulated energy and ancillary services markets; nonetheless, they have great potential in supporting distribution network operators and their users. This paper evaluates the potential business case of battery storage systems integrating market application and services to a photovoltaic assisted electric vehicle fast-charging station. A mathematical deterministic optimization problem is formulated using mixed-integer linear programming to combine battery storage system operation in the day-ahead and frequency regulation market and the remunerated services offered to the charging station. The technical and economic feasibility of the solution and the applicability of the proposed framework is verified through a case study reflecting an existing photovoltaic assisted charging station in the Netherlands and considering the Dutch energy market framework and prices. The study shows that such battery storage system implementation is economically and technically advantageous for the players involved. The battery storage system can stack additional revenues on top of the market revenues. The charging station benefits from a reduced peak power and a 30% tariff reduction, and the system operator would indirectly benefit from the shaved charging station profile. Furthermore, the analysis shows that providing services to the charging station from the battery storage system does not significantly impact its market-related revenues.https://ieeexplore.ieee.org/document/9855507/Battery energy storage systemday ahead marketdistribution networkelectric vehiclefast charging stationfinancial analysis |
| spellingShingle | Luca Argiolas Marco Stecca Laura M. Ramirez-Elizondo Thiago Batista Soeiro Pavol Bauer Optimal Battery Energy Storage Dispatch in Energy and Frequency Regulation Markets While Peak Shaving an EV Fast Charging Station IEEE Open Access Journal of Power and Energy Battery energy storage system day ahead market distribution network electric vehicle fast charging station financial analysis |
| title | Optimal Battery Energy Storage Dispatch in Energy and Frequency Regulation Markets While Peak Shaving an EV Fast Charging Station |
| title_full | Optimal Battery Energy Storage Dispatch in Energy and Frequency Regulation Markets While Peak Shaving an EV Fast Charging Station |
| title_fullStr | Optimal Battery Energy Storage Dispatch in Energy and Frequency Regulation Markets While Peak Shaving an EV Fast Charging Station |
| title_full_unstemmed | Optimal Battery Energy Storage Dispatch in Energy and Frequency Regulation Markets While Peak Shaving an EV Fast Charging Station |
| title_short | Optimal Battery Energy Storage Dispatch in Energy and Frequency Regulation Markets While Peak Shaving an EV Fast Charging Station |
| title_sort | optimal battery energy storage dispatch in energy and frequency regulation markets while peak shaving an ev fast charging station |
| topic | Battery energy storage system day ahead market distribution network electric vehicle fast charging station financial analysis |
| url | https://ieeexplore.ieee.org/document/9855507/ |
| work_keys_str_mv | AT lucaargiolas optimalbatteryenergystoragedispatchinenergyandfrequencyregulationmarketswhilepeakshavinganevfastchargingstation AT marcostecca optimalbatteryenergystoragedispatchinenergyandfrequencyregulationmarketswhilepeakshavinganevfastchargingstation AT lauramramirezelizondo optimalbatteryenergystoragedispatchinenergyandfrequencyregulationmarketswhilepeakshavinganevfastchargingstation AT thiagobatistasoeiro optimalbatteryenergystoragedispatchinenergyandfrequencyregulationmarketswhilepeakshavinganevfastchargingstation AT pavolbauer optimalbatteryenergystoragedispatchinenergyandfrequencyregulationmarketswhilepeakshavinganevfastchargingstation |