On representation of energy storage in electricity planning models

James H. Merrick, John Bistline and Geoffrey J. Blanford

Papers from arXiv.org

Abstract: This paper considers the representation of energy storage in electricity sector capacity planning models. The incorporation of storage in long-term systems models of this type is increasingly relevant as the cost of storage technologies, particularly batteries, and of complementary variable renewable technologies, decline. To value storage technologies appropriately, a representation of linkages between time periods is required, breaking classical temporal aggregation strategies that greatly improve computation time. We appraise approaches to address this problem, highlighting a common underlying structure, conditions for lossless aggregation, and challenges of aggregation at relevant geographical scales. We then investigate solutions to the modeling problem including a decomposition scheme to avoid temporal aggregation at a parallelizable computational cost. These examples frame aspects of the problem ripe for contributions from the operational research community.

Date: 2021-05, Revised 2021-05
New Economics Papers: this item is included in nep-ene and nep-reg
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Citations: View citations in EconPapers (1)

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Journal Article: On representation of energy storage in electricity planning models (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2105.03707

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