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http://dx.doi.org/10.5762/KAIS.2014.15.6.3813

Economic Evaluation Algorithm of Energy Storage System using the Secondary Battery  

Song, Seok-Hwan (Korea University of Technology and Education, Electrical Engineering)
Kim, Byung-Ki (Korea University of Technology and Education, Electrical Engineering)
Oh, Seung-Teak (Korea University of Technology and Education, Electrical Engineering)
Lee, Kye-Ho (Korea University of Technology and Education, Electrical Engineering)
Rho, Daeseok (Korea University of Technology and Education, Electrical Engineering)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.15, no.6, 2014 , pp. 3813-3820 More about this Journal
Abstract
Recently, with the increase in electrical consumption and the unbalanced power demand and supply, the power reserve rate is becoming smaller and the reliability of the power supply is deteriorating. Under this circumstance, a Battery Energy Storage System (BESS) is considered to be an essential countermeasure for demand side management. On the other hand, an economic evaluation is a critical issue for the introduction of a power system because the cost of BESS is quite high. Therefore, this paper presents economic evaluation method for utility use by considering the best mix method and successive approximation method, and an economic evaluation method for customer use by considering the peak shaving function based on the real time price. From a case study on a model power system and educational customer, it was confirmed that the proposed method is a practical tool for the economic analysis of BESS.
Keywords
Battery Energy Storage System(BESS); Best Mix; Economic Evaluation; Power Demand; Peak Shaving; Load Levelling; Successive Approximation Method;
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