Research on the Optimized Operation of Hybrid Wind and Battery Energy Storage System Based on Peak-Valley Electricity Price

Miao Miao, Suhua Lou, Yuanxin Zhang and Xing Chen
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Miao Miao: State Key Laboratory of Advanced Electromagnetic Engineering and Technology, Huazhong University of Science and Technology, Wuhan 430074, China
Suhua Lou: State Key Laboratory of Advanced Electromagnetic Engineering and Technology, Huazhong University of Science and Technology, Wuhan 430074, China
Yuanxin Zhang: State Key Laboratory of Advanced Electromagnetic Engineering and Technology, Huazhong University of Science and Technology, Wuhan 430074, China
Xing Chen: State Key Laboratory of Advanced Electromagnetic Engineering and Technology, Huazhong University of Science and Technology, Wuhan 430074, China

Energies, 2021, vol. 14, issue 12, 1-11

Abstract: The combined operation of hybrid wind power and a battery energy storage system can be used to convert cheap valley energy to expensive peak energy, thus improving the economic benefits of wind farms. Considering the peak–valley electricity price, an optimization model of the economic benefits of a combined wind–storage system was developed. A charging/discharging strategy of the battery storage system was proposed to maximize the economic benefits of the combined wind–storage system based on the forecast wind power. The maximal economic benefits were obtained based on scenario analysis, taking into account the wind-power forecast error, and costs associated with the loss of battery life, battery operation, and maintenance. Case simulation results highlight the effectiveness of the proposed model. The results show that the hybrid wind–storage system is not only able to convert cheap electricity in the valley period into expensive electricity in the peak period, thus resulting in higher economic benefits, but can also balance the deviation between actual output and plans for the wind power generator to decrease the loss penalty. The analyzed examples show that, following an increase in the deviation of the forecast wind power, the profit of the combined wind–storage system can increase by up to 45% using the charging/discharging strategy, compared with a wind farm that does not utilize energy storage. In addition, the profit of the combined wind–storage system can increase by up to 16% compared with separate systems, following an increase in the deviation penalty deviation coefficient.

Keywords: wind-storage combined system; peak-valley electricity price; battery storage system; charging/discharging strategy; scenario method (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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