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An optimization-based approach for assessing the benefits of residential battery storage in conjunction with solar PV

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3 Author(s)

If residential customers are billed the real-time cost of electricity, battery storage may provide a cost-benefit. Consequently there is an opportunity to reduce the consumer's cost of electricity by maximizing PV energy output and time-shifting load through battery storage. In this paper, we propose a framework based on quadratic programming by which the cost-benefit of energy time-shifting to a given customer may be evaluated. Accordingly, the consumer may justify expenditure on battery storage through either a least cost option of capital investment or choose to utilize existing electric vehicle (EV) battery storage, if available.

Published in:

Bulk Power System Dynamics and Control - IX Optimization, Security and Control of the Emerging Power Grid (IREP), 2013 IREP Symposium

Date of Conference:

25-30 Aug. 2013