Economic optimization of energy conversion with storage

An experimental system being developed at Oklahoma State University represents the first phase of a research effort to formulate a model for optimizing an energy conversion and storage system. Some of the problems in providing energy storage as an alternative to added conversion capacity to meet peak demand are treated here. It is assumed that the conversion system is a steam or hydro plant with a controlled input as opposed to a solar or wind plant with a random input, although extension to the latter is possible.