Impacts of valuing resilience on cost-optimal PV and storage systems for commercial buildings

Nicholas D. Laws, Kate Anderson, Nicholas A. DiOrio, Xiangkun Li and Joyce McLaren

Renewable Energy, 2018, vol. 127, issue C, 896-909

Abstract: Decreasing electric grid reliability in the US, along with increasing severe weather events, have greatly increased interest in resilient energy systems. Few studies have included the value of resilience when sizing PV and Battery Energy Storage Systems (BESS), and none have included the cost to island a PV and BESS, grid-connected costs and benefits, and the value of resilience. This work presents a novel method for incorporating the value of resilience provided by a PV and BESS into a techno-economic optimization model. Including the value of resilience in the design of a cost-optimal PV and BESS generally increases the system capacities, and in some cases makes a system economical where it was not before. For example, for a large hotel in Anaheim, CA no system is economical without resilience valued; however, with a $5317/hr value of resilience a 363 kW and 60 kWh solar and BESS provides a net present value of $50,000.

Keywords: Resilience; Renewable energy; Energy storage; Microgrid; Value of lost load (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0960148118305305
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:127:y:2018:i:c:p:896-909

DOI: 10.1016/j.renene.2018.05.011

Access Statistics for this article

Renewable Energy is currently edited by Soteris A. Kalogirou and Paul Christodoulides

More articles in Renewable Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().