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http://dx.doi.org/10.5207/JIEIE.2002.16.2.081

Economic Assessment of the Battery Energy Storage System with Its Customer Type  

손학식 (숭실대학교 전기공학과)
최준호 (서울대학교 전기공학과 Post Doc)
김재철 (숭실대학교 전기공학과)
Publication Information
Journal of the Korean Institute of Illuminating and Electrical Installation Engineers / v.16, no.2, 2002 , pp. 81-89 More about this Journal
Abstract
The Battery Energy Storage System (BESS) has lots of advantages such as load leveling, quick response emergency power (spinning reserve), frequency and voltage control, improvement of reliability, and deferred generation and transmission construction. However, it is very critical that economic feasibility requires justification from the customer side of meter to promoting the dissemination of BESS in nation widely. In this paper, we proposed the economic assessment model of customer owned BESS which is complemented and improved the existing model. The proposed model is applied to the typical customer types, i.e. light industrial, commercial, and residential, which are taken from the statistical analysis on the load profile survey of Korea Electric Power COmpany (KEPCO). The economic viability performed for each customer load type to justifying their economic feasibility of BESS installation from the economic measures such as payback period, Net Present Worth (NPW), Rate Of Return (ROR). The results show that the BESS has economic benefits to the specific customer type, i.e. residential customer. Therefore, the government and the energy agency should be committing the support program, such as tax incentive, financial support, to disseminate the BESS nation widely. The results of this paper are useful to the customer investment decision-making and the national energy policy & strategy in Korea.
Keywords
battery energe storage system; economic assessment; customers; load profile; sensitive analysis; demand side management; decision making;
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