Value stacking of a behind-the-meter utility-scale battery for demand response markets and demand charge management: real-world operation on the UC San Diego campus

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...

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Published in:IEEE Power & Energy Society General Meeting pp. 1 - 6
Main Authors: Chen, Yi-An, Greenough, Ryan, Ferry, Mike, Johnson, Kelsey, Kleissl, Jan
Format: Conference Proceeding
Language:English
Published: IEEE 26.07.2021
Subjects:
Bidding Strategy
Demand Charge Management
Demand response
Demand Response Market
Economics
Energy resources
Microgrids
Optimal Scheduling algorithm
Random access memory
Real-world Operation
Renewable energy sources
Stacking
ISSN:1944-9933
Online Access:Get full text
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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.
AbstractList 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.
Author Kleissl, Jan
Greenough, Ryan
Johnson, Kelsey
Ferry, Mike
Chen, Yi-An
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  givenname: Yi-An
  surname: Chen
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  givenname: Ryan
  surname: Greenough
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  email: rgreenough@ucsd.edu
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  givenname: Mike
  surname: Ferry
  fullname: Ferry, Mike
  email: mdferry@ucsd.edu
  organization: University of California San Diego,Center for Energy Research,La Jolla,CA,USA,92093
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  givenname: Kelsey
  surname: Johnson
  fullname: Johnson, Kelsey
  email: info@nuvve.com
  organization: Nuvve Corporation,San Diego,CA,USA,92106
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  givenname: Jan
  surname: Kleissl
  fullname: Kleissl, Jan
  email: jkleissl@ucsd.edu
  organization: University of California San Diego,Center for Energy Research,La Jolla,CA,USA,92093
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SubjectTerms Bidding Strategy
Demand Charge Management
Demand response
Demand Response Market
Economics
Energy resources
Microgrids
Optimal Scheduling algorithm
Random access memory
Real-world Operation
Renewable energy sources
Stacking
Title Value stacking of a behind-the-meter utility-scale battery for demand response markets and demand charge management: real-world operation on the UC San Diego campus
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