Abstract
Control of flexible loads and battery energy storage are two of the major technologies characterizing the smart grid revolution. It has been established that for a battery system installation to provide optimal returns, it is essential to use the battery system for multiple value-added services. However, flexible loads could also be used for such services. As such, should a load serving entity (LSE) consider investing in a battery storage system or the control of flexible loads for an array of services? This paper examines this question using a simple methodology considering three services - energy arbitrage, peak shaving and frequency regulation. The flexible loads of interest are residential heating, ventilation and air-conditioning (HVAC) units and electric water heaters. Case studies based on real market prices and simulated load data are presented. The results show that the control of flexible loads, if available, could yield better returns for the LSE compared with the battery depending on the compensations paid to the resource owners.
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