A Review of Battery Energy Storage System Optimization: Current State-Of- The-Art and Future Trends

The transition away from fossil fuels due to their environmental impact has prompted the integration of renewable energy sources, particularly wind and solar, into the main grid. However, the intermittent nature of these renewables and the potential for overgeneration pose significant challenges. Battery energy storage systems (BESS) emerge as a solution to balance supply and demand by storing surplus energy for later use and optimizing various aspects such as capacity, cost, and power quality. Battery energy storage systems are a key component, and determining optimal sizing and scheduling is a critical aspect of the design of the system. The degradation of batteries may not seem important in some optimization studies, but it has a significant impact on objectives like system reliability and cost. Addressing degradation either as a constraint or an objective in optimization models is a crucial point. This paper provides a comprehensive overview of BESS, covering various battery technologies, degradation, optimization strategies, objectives, and constraints. It categorizes optimization goals and methods, offering insights into the current research landscape and identifying research gaps. The paper's recommendations aim to guide researchers in designing efficient battery-based energy storage systems, promoting a sustainable future with green energy solutions.