Operating and Planning Battery Energy Storage in a Competitive Market Environment
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In a vertically-integrated environment, battery energy storage is deployed and operated to reduce the overall system cost and improve the utilization of stochastic renewable generation capacity. On the other hand, in a competitive market environment, these batteries would be operated and deployed to maximize the profit that they can earn for their owners. In this presentation we will discuss several models that we have developed to determine the optimal siting and sizing of energy storage devices. We will also consider how battery degradation can be taken into account in optimal dispatch decisions.
Daniel Kirschen is the Donald W. and Ruth Mary Close Professor of Electrical Engineering at the University of Washington. His research focuses on smart grids, the integration of renewable energy sources in the grid, power system economics and power system security. Prior to joining the University of Washington, he taught for 16 years at The University of Manchester. Before becoming an academic, Daniel worked for Control Data and Siemens on the development of application software for utility control centers. He holds a PhD and MS from the University of Wisconsin and an Electro-Mechanical Engineering degree from the Université Libre de Bruxelles (Belgium).