Electricity Cost Optimization in Energy Storage Systems by Combining a Genetic Algorithm with Dynamic Programming

Seung-Ju Lee,Yourim Yoon

doi:10.3390/math8091526

Abstract

Recently, energy storage systems (ESSs) are becoming more important as renewable and microgrid technologies advance. ESSs can act as a buffer between generation and load and enable commercial and industrial end users to reduce their electricity expenses by controlling the charge/discharge amount. In this paper, to derive efficient charge/discharge schedules of ESSs based on time-of-use pricing with renewable energy, a combination of genetic algorithm and dynamic programming is proposed. The performance of the combined method is improved by adjusting the size of the base units of dynamic programming. We show the effectiveness of the proposed method by simulating experiments with load and generation profiles of various commercial electricity consumers.

Highlights

An energy storage system (ESS) is a system that can store energy and provide it for consumer use for a certain time period at an acceptable level
We summarize our contributions in this study as follows: (i) we propose a combined method of dynamic programming (DP) and genetic algorithm (GA) for electric cost optimization with renewable energy and ESS under TOU with/without demand charge; (ii) we improve the performance of the proposed method by adjusting the size of the base units of DP; (iii) we perform comparative experiments on the proposed method for various industrial electricity load and renewable energy generation profile; and (iv) we show that our combined method is effective for both cases with and without demand charge in terms of cost saving and time
We proposed a combined method of GA and DP for ESS scheduling problems with and without demand charge

Summary

Introduction

An energy storage system (ESS) is a system that can store energy and provide it for consumer use for a certain time period at an acceptable level. In an electrical grid system, the ESS can be used to adjust the electricity usage and charge. The ESS is charged and discharged when the electricity usage is low and high, respectively. The overall energy efficiency of the system is improved and the energy flow from the electrical grid connected to the system is stabilized. Reliability is the key to the effective use of smart grid systems and new renewable energy sources [1]. The demand for ESSs is increasing [2,3,4,5]

Methods

Results

Conclusion