Abstract
A battery energy storage system (BESS) can help improve distribution networks in two ways. First, on the technical side, it can support grid operations by providing voltage or frequency regulation, and help in a black start following a major fault. Second, on the economic aspect, BESS can be employed to help create profits through energy arbitrage (EA) and a reduction in various utility charges. In this paper, a planning study is proposed for determining the size and scheduling of the BESS in order to generate profit from EA. The study considers three different data sets as well as rules and regulations from three different jurisdictions throughout the world, namely, Ontario, Canada, Queensland, Australia, and New York West, USA, to investigate the potential of EA and to optimise the size and operation profile of the BESS. The results demonstrate the economic feasibility of employing the BESS for EA in each jurisdiction and show the optimal sizing and scheduling of the BESS in each case.
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