Battery Energy Storage Application: Regulation and Peak Shaving for a Photovoltaic-Equipped Community

This paper proposes a two-stage stochastic joint optimization problem, which mainly explores the economics of battery energy storage systems (BESSs) providing multiple services simultaneously. The services provided by BESS in this paper include remaining reserves for community photovoltaics (PVs), leasing capacity to provide regulation service to the power grid, and shaving the peak load for the community.