Abstract
In this work, we provide an economic analysis of using behind-the-meter (BTM) energy storage systems (ESS) for time-of-use (TOU) bill management together with power factor correction. A nonlinear optimization problem is formulated to find the optimal ESS’s charge/discharge operating scheme that minimizes the energy and demand charges while correcting the power factor of the utility customers. The energy storage’s state of charge (SOC) and inverter’s power factor (PF) are considered in the constraints of the optimization. The problem is then transformed to a Linear Programming (LP) problem and formulated using Pyomo optimization modeling language. Case studies are conducted for a waste water treatment plant (WWTP) in New Mexico.
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