Stacked Benefits of Energy Storage in Microgrid Scheduling

High penetration of intermittent renewable generation and in turn reduced flexibility may lead to frequent system imbalances. This poses real-time operational challenges for system operator and necessitates the deployment of multiple services in different time horizons. With high response rates and energy shifting capabilities, energy storage system can become a pragmatic solution for this. However, the major snag in their proliferation is high investment cost and less return associated with single service. In this context, the paper analyses multiple services of ESS and benefits associated with them. A Mix-Integer Nonlinear Programming (MINLP) model for day-ahead scheduling in 15 minutes temporal is formulated with an objective of profit maximization of a Microgrid owner. Uncertainty of generation and load is handled using Monte Carlo simulation. Study shows that in a scenario of high renewable penetration, participation of energy storage improves reliability of microgrid and profit is maximum when storage is scheduled for multiple services.