Abstract
Summary form only given. This paper presents a model for calculating the optimal size of an energy storage system (ESS) in a microgrid considering reliability criterion. The optimal ESS sizing problem minimizes the investment cost of the ESS, as well as expected microgrid operating cost. By increasing the ESS size the investment cost linearly increases while the operating cost exponentially reduces. Also a larger ESS size increases the reliability of the microgrid. Therefore, the objective would be to find the optimal ESS size in which the summation of ESS investment cost and microgrid operating cost is minimized and the reliability criterion is satisfied. A practical model for ESS is utilized. Mixed-integer programming (MIP) is utilized to formulate the problem. Illustrative examples are presented to show the efficiency of the proposed method.
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