Economic Dispatch of Multiple Energy Storage Systems Under Different Characteristics

Abstract

This paper presents economic dispatch of the grid-connected microgrid that contains multiple energy storage systems as its only controllable distributed energy resources. Daily control schedules of distributed energy resources are achieved by solving the economic dispatch problem. The main objective of economic dispatch is maximizing the profit from the power trade with the grid. The economic dispatch problem presented in this paper considers the different characteristics of energy storage systems. Each energy storage system has its unique characteristics such as the charge/discharge efficiency and capacity fade rate. The result of the multi-objective problem shows that the energy storage system with the highest efficiency and the lowest capacity fade rate is controlled more frequently than the others. The Pareto optimal set of the resulting control schedules is presented.