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Self scheduling program for a VRB energy storage in a competitive electricity market

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2 Author(s)
Moghaddam, I.G. ; Fac. of Electr. & Comput. Eng., Tarbiat Modares Univ. (TMU), Tehran, Iran ; Saeidian, A.

Recent developments and advances in energy storage technologies are making the application of energy storage technologies a viable solution to power system applications. This paper addresses the economical aspects of Vanadium Redox Battery (VRB) energy storage participation in competitive electricity markets as a power producer. The costs including installation, operation & maintenance and the revenues containing energy price, reducing transmission access cost and deferring facility investment are among economic parameters considered here. In order to achieve this goal, an appropriate self-scheduling approach must be developed to determine its maximum potential of expected profit among multi-markets such as energy and ancillary service markets. The profit maximization problem faced by the VRB is therefore an optimal scheduling problem that is formulated as a mixed-integer non-linear programming (MINLP) problem. Numerical studies have been conducted to evaluate the proposed approach.

Published in:

Power System Technology (POWERCON), 2010 International Conference on

Date of Conference:

24-28 Oct. 2010