An economic optimization for BESS sizing in a hybrid PV and wind power plant

Abstract

This paper presents an analytical sizing strategy for a Battery Energy Storage System (BESS) in a Hybrid PV and Wind Power Plant (HPP), aiming at maximizing the operating profits of the HPP. This goal was achieved mainly through applying the battery to compensate for forecasting errors, i.e., reducing renewable energy curtailment and ancillary service requirement under the electricity market operation rules. A novel reformulation for the optimization problem was proposed to convert the original nonlinear programming problem into a linear programming problem. Two preliminary forecasting methods were applied as comparable studies to verify the effectiveness of installing the BESS. The numerical simulation results have showed the detailed operating profits in each scenario with the corresponding BESS power and energy capacity.