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Long-term revenue estimation for battery performing arbitrage and ancillary services

Md Umar Hashmi 1, 2 Wael Labidi 3, 4 Ana Bušic 1, 2 Salah-Eddine Elayoubi 5 Tijani Chahed 3, 4
1 DYOGENE - Dynamics of Geometric Networks
DI-ENS - Département d'informatique de l'École normale supérieure, CNRS - Centre National de la Recherche Scientifique : UMR 8548, Inria de Paris
4 METHODES-SAMOVAR - Méthodes et modèles pour les réseaux
SAMOVAR - Services répartis, Architectures, MOdélisation, Validation, Administration des Réseaux
Abstract : Energy storage revenue estimation is essential for analyzing financial feasibility of investment in batteries. We quantify the cycles of operation considering depth-of-discharge (DoD) of operational cycles and provide an algorithm to calculate equivalent 100% DoD cycles. This facilitates in comparing cycles of different DoDs. The battery life is frequently defined as a combination of cycle and calendar life. We propose a battery capacity degradation model based on the cycle and the calendar life and operational cycles. Using equivalent 100% DoD cycles and revenue generated, we calculate the dollars per cycle revenue of storage performing electricity price based arbitrage and ancillary services for load balancing in real time. Using PJM's (a regional transmission organization in the United States) real data we calculate short term and long term financial potential for the year of 2017. We observe that participating in ancillary services is significantly more beneficial for storage owners compared to participating in energy arbitrage.
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Submitted on : Tuesday, September 4, 2018 - 11:33:14 AM
Last modification on : Thursday, May 21, 2020 - 10:04:03 AM
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Md Umar Hashmi, Wael Labidi, Ana Bušic, Salah-Eddine Elayoubi, Tijani Chahed. Long-term revenue estimation for battery performing arbitrage and ancillary services. SMARTGRIDCOMM 2018: International Conference Communications, Control, and Computing Technologies for Smart Grids, IEEE, Oct 2018, Aalborg, Denmark. pp.1-7, ⟨10.1109/SmartGridComm.2018.8587562⟩. ⟨hal-01867341⟩



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