Economic dispatch algorithm considering battery degradation characteristic of energy storage system with PV system

In this paper, energy storage system(ESS) operation algorithm for economics considering battery degradation properties is proposed. Hourly electricity charge according to real-time pricing (RTP) and battery properties are analyzed for high profit through ESS operation. Especially, hourly electricity charge of Illinois State is analyzed. Characteristics of battery accounts for a high percentage of ESS configuration. Thus, degradation properties of the battery for the price considering the loss of battery usage is considered. The algorithm is proposed for the highest profit through analysis of the battery degradation properties and electricity charge, and the proposed algorithm is verified by mathematical analysis.