An energy storage dispatch optimization for demand-side management in industrial facilities

Joseph Elio, Miguel Peinado-Guerrero, Rene Villalobos, Ryan J. Milcarek

Research output: Contribution to journalArticlepeer-review

Abstract

An energy storage (ES) dispatch optimization was implemented to test lithium-ion battery ES, supercapacitor ES, and compressed air ES on two different industrial facilities – one intermittent process facility and one continuous process facility. The model first shows the capability of optimizing the size of a single technology on a single industrial facility to maximize the return on investment. Then, for the same profile, the model identifies significant differences in the optimal size for different technologies based on their performance parameters. Third, the model identifies differences in the optimal size for each technology based on the facilities profile. The results show compressed air ES yields the highest return on investment for both facilities and provides insight for future development of ES systems.

Original languageEnglish (US)
Article number105063
JournalJournal of Energy Storage
Volume53
DOIs
StatePublished - Sep 2022

Keywords

  • Compressed air energy storage
  • Demand-side management
  • Lithium-ion battery energy storage
  • Optimal scheduling
  • Power system economics
  • Supercapacitor energy storage

ASJC Scopus subject areas

  • Renewable Energy, Sustainability and the Environment
  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering

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