Volume 01: Proceedings of Applied Energy Symposium: MIT A+B, United States, 2019

Energy Storage Optimal Configuration with LifeCycle Cost–Benefit Analysis Tao Xu, He Meng, Jie Zhu, Wei Wei, He Zhao, Zijin Li

Abstract

With the large scale access of distributed generation to distribution networks, the increase of distributed generation permeability has brought a series of impacts on voltage, power quality, dispatching and operation of distribution networks. Optimal configuration of energy storage systems can effectively solve these issues brought by the increased penetration of distribute generation. In this study an interactive bi-level optimal energy storage planning approach has been proposed, which takes the average annual net cost optimization into consideration. In the proposed approach, the capacity configuration and the charging/discharging power of energy storage systems are carefully analyzed while life-cycle cost including investment cost, operation and maintenance cost, replacement cost, recovery value and disposal cost, as well as energy storage arbitrage income, government’s incentives and environmental benefits are synthetically deliberated. Finally, the feasibility and effectiveness of the proposed optimal configuration strategy has been simulated on a real UK distribution feeder model.

Keywords distributed generation, energy storage system, life-cycle cost, economic benefit, genetic algorithm, simulated annealing

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