Maximum income resulting from energy arbitrage by battery systems subject to cycle aging and price uncertainty from a dynamic programming perspective

This paper describes an approach to compute the maximum value of energy storage systems (ESS) in grid applications under uncertain energy prices. The value obtained is based on an optimal operation (consisting of charge/discharge sequences) of the ESS. In other words, it is the maximum value that ma...

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Bibliographic Details
Published in:	Energy (Oxford) Vol. 156; pp. 647 - 660
Main Authors:	Díaz, Guzmán, Gómez-Aleixandre, Javier, Coto, José, Conejero, Olga
Format:	Journal Article
Language:	English
Published:	Elsevier Ltd 01.08.2018
Subjects:	algorithms batteries Battery aging Dynamic programming Economic value electricity energy energy costs income markets Optimization prices Stochastic analysis uncertainty Battery aging Stochastic analysis Economic value Dynamic programming Optimization
ISSN:	0360-5442
Online Access:	Get full text
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