A New Battery Energy Storage Charging/Discharging Scheme for Wind Power Producers in Real-Time Markets

Minh Y Nguyen, Dinh Hung Nguyen and Yong Tae Yoon
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Minh Y Nguyen: Seoul National University, Gwanak-ro 599, Gwanak-gu, Seoul 151-744, Korea
Dinh Hung Nguyen: Seoul National University, Gwanak-ro 599, Gwanak-gu, Seoul 151-744, Korea
Yong Tae Yoon: Seoul National University, Gwanak-ro 599, Gwanak-gu, Seoul 151-744, Korea

Energies, 2012, vol. 5, issue 12, 1-14

Abstract: Under a deregulated environment, wind power producers are subject to many regulation costs due to the intermittence of natural resources and the accuracy limits of existing prediction tools. This paper addresses the operation (charging/discharging) problem of battery energy storage installed in a wind generation system in order to improve the value of wind power in the real-time market. Depending on the prediction of market prices and the probabilistic information of wind generation, wind power producers can schedule the battery energy storage for the next day in order to maximize the profit. In addition, by taking into account the expenses of using batteries, the proposed charging/discharging scheme is able to avoid the detrimental operation of battery energy storage which can lead to a significant reduction of battery lifetime, i.e. , uneconomical operation. The problem is formulated in a dynamic programming framework and solved by a dynamic programming backward algorithm. The proposed scheme is then applied to the study cases, and the results of simulation show its effectiveness.

Keywords: real-time market; real-time price; deregulated market; wind power; battery energy storage; charging/discharging scheme (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: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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