Scheduled System Maintenance:
On May 6th, single article purchases and IEEE account management will be unavailable from 8:00 AM - 12:00 PM ET (12:00 - 16:00 UTC). We apologize for the inconvenience.
By Topic

A Dynamic Programming Approach to Estimate the Capacity Value of Energy Storage

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$31 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

3 Author(s)
Sioshansi, R. ; Integrated Syst. Eng. Dept., Ohio State Univ., Columbus, OH, USA ; Madaeni, S.H. ; Denholm, P.

We present a method to estimate the capacity value of storage. Our method uses a dynamic program to model the effect of power system outages on the operation and state of charge of storage in subsequent periods. We combine the optimized dispatch from the dynamic program with estimated system loss of load probabilities to compute a probability distribution for the state of charge of storage in each period. This probability distribution can be used as a forced outage rate for storage in standard reliability-based capacity value estimation methods. Our proposed method has the advantage over existing approximations that it explicitly captures the effect of system shortage events on the state of charge of storage in subsequent periods. We also use a numerical case study, based on five utility systems in the U.S., to demonstrate our technique and compare it to existing approximation methods.

Published in:

Power Systems, IEEE Transactions on  (Volume:29 ,  Issue: 1 )