Abstract
Residential energy storage systems offer significant potential for price arbitrage by capitalizing on fluctuations in electricity prices throughout the day. This study investigates the potential revenue from optimal battery scheduling for residential storage in different north-western European electricity price zones during 2023. Using Nord Pool day-ahead prices, we applied an optimization model to determine the revenue for two types of batteries: 5 kW/10 kWh and 10 kW/10 kWh. The analysis considered battery capacity, charging and discharging efficiency, and maximum charge/discharge rates. Our results show notable variations in potential revenue across different regions, with the Baltic states demonstrating the highest revenue potential. The findings indicate that while 10 kW batteries can generate higher total revenue, 5 kW batteries are more efficient in terms of revenue per cycle. These regional disparities underscore the need for targeted incentives and policies to enhance the economic viability of residential energy storage. The research results provide valuable insights into optimizing residential battery storage for price arbitrage, offering guidance for consumers, policymakers, and energy providers to maximize economic benefits in various electricity markets.
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