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

Elio, Joseph·Peinado-Guerrero, Miguel·Villalobos, Rene·Milcarek, Ryan J.
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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. Here the results show compressed air ES yields the highest return on investment for both facilities and provides insight for future development of ES systems.

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25 ENERGY STORAGEcompressed air energy storagedemand-side managementlithium-ion battery energy storageoptimal schedulingpower system economicssupercapacitor energy storage

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Elio, Joseph, Peinado-Guerrero, Miguel, Villalobos, Rene, Milcarek, Ryan J.. 2022-06-15. An energy storage dispatch optimization for demand-side management in industrial facilities. https://doi.org/10.1016/j.est.2022.105063

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