A hierarchical EMS for aggregated BESSs in energy and performance-based regulation markets

The battery energy storage systems (BESSs) have been increasingly installed in the power system, especially with the growing penetration rate of the renewable energy sources. However, it is difficult for BESSs to be profitable due to high capital costs. In order to boost the economic value of BESSs, this paper proposes a hierarchical energy management system (HiEMS) to aggregate multiple BESSs, and to achieve multi-market business operations. The proposed HiEMS optimizes the multi-market bids considering a realistic BESS performance model, and coordinates the BESSs and manages their state of charge (SOC) values, according to their price penalties based on dynamically generated annualized cost. By taking part in the energy market and regulation market at the same time, the cost-performance index (CPI) of the BESS aggregation is greatly improved. The impact of photovoltaic generation (PV) on system performance and CPI is also studied.

Keywords

Battery energy storage system (BESS), electricity market, energy management system (EMS), regulation market

Journal Title

IEEE Transactions on Power Systems

Journal ISSN

0885-8950
1558-0679

Volume Title

32

Publisher

Institute of Electrical and Electronics Engineers (IEEE)

Publisher DOI

https://doi.org/10.1109/TPWRS.2016.2598186

Rights and licensing

Except where otherwised noted, this item's license is described as http://www.rioxx.net/licenses/all-rights-reserved

Sponsorship

This work is supported in part by DNV GL Energy (formerly KEMA) Technology Centre, Nanyang Technological University, and the Energy Innovation Research Programme (EIRP, Award No. NRF2014EWT-EIRP002-005), administrated by the Energy Market Authority (EMA). The EIRP is a competitive grant call initiative driven by the Energy Innovation Programme Office, and funded by the National Research Foundation (NRF) Singapore.

Collections

Scholarly Works - Engineering
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