Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service
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2021
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Institute of Electrical and Electronics Engineers Inc.
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Abstract
In a near future, the deployment of renewable energy sources will lead to an increasing need for faster and more reliable auxiliary services. This paper evaluates the participation of the energy storage systems in the Dynamic Containment service recently launched in Great Britain. Moreover, a market bidding strategy to manage the state of charge of the battery has been developed in which the Intraday Continuous Market purchase transactions are optimized. Additionally, the lifetime is estimated through an aging model based on Rainflow cycling counting algorithm and Wöhler curves. A techno-economic analysis is conducted to demonstrate the technical capability and reliable performance of the energy storage system. Finally, the main financial indicators are presented for the considered case study, which states the potential profitability for this recent business model.
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Publisher Copyright: © 2021 IEEE
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dynamic containment , electricity market , energy management , energy storage , Artificial Intelligence , Energy Engineering and Power Technology , Renewable Energy, Sustainability and the Environment , Electrical and Electronic Engineering , Industrial and Manufacturing Engineering , Environmental Engineering , Control and Optimization , SDG 7 - Affordable and Clean Energy
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Ochoa-Eguilegor , L , Goitia-Zabaleta , N , González-Garrido , A , Saez-De-Ibarra , A , Gaztañaga , H & Hernandez , A 2021 , Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service . in Z M Leonowicz (ed.) , 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings . 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings , Institute of Electrical and Electronics Engineers Inc. , 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 , Bari , Italy , 7/09/21 . https://doi.org/10.1109/EEEIC/ICPSEurope51590.2021.9584713
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