Impact of Energy Storage Unit on Power System Economic Dispatch: A Multi-parametric Programming Method and its Implication on Energy Storage Sizing

The energy storage unit (ESU) is helpful for shaving the peak and filling the valley demands, as well as compensating the volatility of renewable generation. The performance mainly depends on the maximum charging/discharging power (in MW) and energy capacity (in MWh). This paper proposes a multi-par...

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Bibliographic Details
Published in:Chinese Control Conference pp. 1519 - 1523
Main Authors: Fang, Baomin, Wu, Danman, Li, Yanhe, Huang, Shaowei, Mei, Shengwei
Format: Conference Proceeding
Language:English
Published: Technical Committee on Control Theory, Chinese Association of Automation 01.07.2020
Subjects:
bulk power system
economic dispatch
Economics
Energy storage
energy storage unit
Load modeling
Mathematical model
multi-parametric programming
Planning
Power system economics
ISSN:1934-1768
Online Access:Get full text
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Summary:The energy storage unit (ESU) is helpful for shaving the peak and filling the valley demands, as well as compensating the volatility of renewable generation. The performance mainly depends on the maximum charging/discharging power (in MW) and energy capacity (in MWh). This paper proposes a multi-parametric linear programming model to investigate and describe the impact of MW/MWh parameters of the energy storage unit on the economic operation of bulk power systems in a geometric manner. By employing duality theory, the optimal value function of the economic dispatch problem is approximated via piecewise linear functions which are convenient for visualization. The optimal value function delivers useful information on energy storage sizing subject to a given budget, which is elaborated as an application of the proposed method. The effectiveness of the model and method is validated via a modified IEEE 39-bus system.
ISSN:1934-1768
DOI:10.23919/CCC50068.2020.9189448