Revenue Analysis of Stationary and Transportable Battery Storage for Power Systems: A Market Participant Perspective

Zhongyang Zhao, Caisheng Wang () and Masoud H. Nazari
Additional contact information
Zhongyang Zhao: Department of Electrical and Computer Engineering, Wayne State University, Detroit, MI 48202, USA
Caisheng Wang: Department of Electrical and Computer Engineering, Wayne State University, Detroit, MI 48202, USA
Masoud H. Nazari: Department of Electrical and Computer Engineering, Wayne State University, Detroit, MI 48202, USA

Sustainability, 2024, vol. 16, issue 6, 1-16

Abstract: The power system faces a growing need for increased transmission capacity and reliability with the rising integration of renewable energy resources. To tackle this challenge, Battery Energy Storage Systems (BESSs) prove effective in enhancing grid capacity and relieving transmission congestion. This paper focuses on the PJM market, conducting a thorough revenue analysis to identify and characterize highly profitable nodes for BESS market participants. A comparison between stationary and transportable BESSs reveals that the transportable BESSs can generate higher potential revenue in energy and regulation markets. Based on these findings, we propose an optimal placement algorithm to support market participants in selecting strategic sites for BESS installation, validated with real PJM market data. This paper provides valuable insights for navigating market-based power system participants and promoting the effective integration of BESSs.

Keywords: battery energy storage system; revenue analysis; optimal placement algorithm; transportable energy storage (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/2071-1050/16/6/2370/pdf (application/pdf)
https://www.mdpi.com/2071-1050/16/6/2370/ (text/html)

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:gam:jsusta:v:16:y:2024:i:6:p:2370-:d:1356128

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().