Distributed ESS Capacity Decision for Home Appliances and Economic Analysis

Yeon Ju Baik and Ye Gu Kang
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Yeon Ju Baik: Korea Institute of Finance, Seoul 04538, Korea
Ye Gu Kang: School of Electrical, Electronics & Communication Engineering, Korea University of Technology and Education, Cheonan-si 31253, Korea

Energies, 2022, vol. 15, issue 15, 1-16

Abstract: The imbalance between the supply and demand of electricity is becoming expansive due to the increase in renewable energy penetration. Consequently, the time-varying electricity price is proposed as a tool to manage the mismatch. To cope with the electricity price difference across time and to extract the benefit to the limit, an energy storage system (ESS) can be a good tool to smooth out electricity usage. Nevertheless, ESS can be expensive due to the high installation cost and centrally managed system. In this paper, we propose a distributed ESS installed in each home appliance. Separately installed batteries can avoid sizeable initial investment costs. We calculated the benefit of the system that mainly stemmed from the electricity price difference and compared the benefits across various sizes of the battery system. In addition, the charging/discharging schedule depends on the power consumption profile and electricity price distribution. Decreasing battery prices and rising electricity price volatility can increase the system’s potential benefit.

Keywords: battery capacity; distributed; economic benefit; energy storage system (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: 2022
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