Journal
IEEE TRANSACTIONS ON POWER SYSTEMS
Volume 31, Issue 1, Pages 786-797Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TPWRS.2015.2411556
Keywords
Coordinated charge and discharge schedules; energy storage; locational marginal price; mixed-integer linear programming; price-maker; transmission-constrained market
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Funding
- United States National Science Foundation (NSF) [ECCS 1253516, ECCS 1307756, CNS 1319798]
- Direct For Computer & Info Scie & Enginr [1319798] Funding Source: National Science Foundation
- Div Of Electrical, Commun & Cyber Sys [1307756] Funding Source: National Science Foundation
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In this paper, a new optimization framework is proposed to coordinate the operation of large, price-maker, and geographically dispersed energy storage/battery systems in a nodal transmission-constrained energy market. The energy storage units are assumed to be investor-owned and independently-operated, seeking to maximize their total profit. Various design factors are taken into consideration such as the location, size, efficiency, and charge and discharge rates of the energy storage units as well as the joint impact of the energy storage operations on the locational marginal prices. While the formulated optimization problem is originally nonlinear and hard to solve, nonlinearities are tackled both in the objective function and in the constraints and the problem is transformed into a tractable mixed-integer linear program, for which the global optimal solutions are found for the charge and discharge schedules of each energy storage unit. Both deterministic and stochastic design scenarios are addressed. Various case studies are presented. It is observed that transmission line congestion is often, but not always, desirable for the coordinated storage systems. Locational diversity, practice of arbitrage, robust design, self-scheduling versus economic bidding, and the overall power system performance are also investigated.
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