A Simulation Framework for Optimal Energy Storage Sizing

• Main Authors: Carlos Suazo-Martínez, Eduardo Pereira-Bonvallet, Rodrigo Palma-Behnke
• Format: Article
• Language: English
• Published: MDPI AG 2014-05-01
• Series: Energies
• Subjects: energy storage systems; unit commitment; renewable energy; optimal sizing; high performance computing
• Online Access: http://www.mdpi.com/1996-1073/7/5/3033

Despite the increasing interest in Energy Storage Systems (ESS), quantification of their technical and economical benefits remains a challenge. To assess the use of ESS, a simulation approach for ESS optimal sizing is presented. The algorithm is based on an adapted Unit Commitment, including ESS operational constraints, and the use of high performance computing (HPC). Multiple short-term simulations are carried out within a multiple year horizon. Evaluation is performed for Chile's Northern Interconnected Power System (SING). The authors show that a single year evaluation could lead to sub-optimal results when evaluating optimal ESS size. Hence, it is advisable to perform long-term evaluations of ESS. Additionally, the importance of detailed simulation for adequate assessment of ESS contributions and to fully capture storage value is also discussed. Furthermore, the robustness of the optimal sizing approach is evaluated by means of a sensitivity analyses. The results suggest that regulatory frameworks should recognize multiple value streams from storage in order to encourage greater ESS integration.