Abstract
Recent attention to industrial peak shaving applications sparked an increased interest in battery energy storage. Batteries provide a fast and high power capability, making them an ideal solution for this task. This work proposes a general framework for sizing of battery energy storage system (BESS) in peak shaving applications. A cost-optimal sizing of the battery and power electronics is derived using linear programming based on local demand and billing scheme. A case study conducted with real-world industrial profiles shows the applicability of the approach as well as the return on investment dependence on the load profile. At the same time, the power flow optimization reveals the best storage operation patterns considering a trade-off between energy purchase, peak-power tariff, and battery aging. This underlines the need for a general mathematical optimization approach to efficiently tackle the challenge of peak shaving using an energy storage system. The case study also compares the applicability of yearly and monthly billing schemes, where the highest load of the year/month is the base for the price per kW. The results demonstrate that batteries in peak shaving applications can shorten the payback period when used for large industrial loads. They also show the impacts of peak shaving variation on the return of investment and battery aging of the system.
Highlights
In power systems, the load profile can be characterized by the “peak load times” of the system—short periods of time when large amounts of power are required [1]
The results presented in this work show that depending on the values of round trip efficiency, life cycles, and power price, there are battery energy storage system (BESS) technologies that are already profitable when considering only peak shaving applications
In this work, the cyclic aging is represented by the number of full equivalent cycles (FEC) that provides the overall energy throughput with any Depth of Discharge (DoD) per cycle divided by the available capacity battery storage [38]
Summary
The load profile can be characterized by the “peak load times” of the system—short periods of time when large amounts of power are required [1]. Commercial and industrial customers are interested in decreasing energy and power costs, which are the most significant part of the total charges, without lowering their energy consumption In this context, energy storage systems (ESS) can be used to help customers flatten their demand profile by storing energy during off-peak periods and releasing it during peak load periods. In contrast to the important contributions mentioned above, this work proposes a linear optimization method to define a cost-optimal sizing of the battery and power electronics for peak shaving application in industrial settings. This paper presents a case study conducted with real industrial profiles, a techno-economic analysis evaluating the return on investment (ROI) of the system and battery degradation, and a linear programming (LP) approach allowing exact solution determination for BESS sizing.
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