Abstract
More and more microgrids implement renewable energy resources and integrate energy storage systems which brings opportunities for energy market participation. While many studies analyze energy market bidding strategies and optimal energy resource management, the complications of realworld operation are often not considered. This study offers an economic model including monthly demand charge management and daily demand response auction mechanism (DRAM) market participation for a real-world operation of risk-averse energy storage scheduling on the DC San Diego campus. Market revenue analysis indicates net DRAM revenue in July and August 2020 of $96,025. A case study provides insight into the market operation and validates the feasibility of the economic model and control algorithm.
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