Abstract
In recent years, the battery energy storage system (BESS) has been attracting great attention as an alternative to promoting renewable energy sources. Nevertheless, the market for small-scale BESS is still in its infancy particularly due to its high cost. However, the small-scale BESS for homes and buildings is expected to grow in volume as its cost decreases. The customers utilize the BESS mainly for the purpose of cost reduction, and many studies have been conducted. However, the mutual effects of the BESS charging/discharging efficiency and the electricity price fluctuation are not sufficiently considered in the previous researches. Thus, in this study, their impacts on the reduction of electricity bills are analyzed. Specifically, we derive the relationship between BESS efficiency and the price fluctuation for the optimal BESS operation. Additionally, it is shown through the simulations that they can have significant impacts on the number of charging and discharging operations of the BESS and consequently on the reduction of electricity bills. The results may provide customers and policymakers with insights on how to effectively use and disseminate the BESS.
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