TY - JOUR
T1 - Optimal Battery Energy Storage Dispatch in Energy and Frequency Regulation Markets While Peak Shaving an EV Fast Charging Station
AU - Argiolas, Luca
AU - Stecca, Marco
AU - Ramirez-Elizondo, Laura M.
AU - Soeiro, Thiago Batista
AU - Bauer, Pavol
PY - 2022
Y1 - 2022
N2 - Battery Energy Storage Systems typically procure their primary revenues from regulated energy and ancillary services markets; nonetheless, they have great potential in supporting distribution network operators and their users. This paper evaluates the potential business case of battery storage systems integrating market application and services to a photovoltaic assisted electric vehicle fast-charging station. A mathematical deterministic optimization problem is formulated using mixed-integer linear programming to combine battery storage system operation in the day-ahead and frequency regulation market and the remunerated services offered to the charging station. The technical and economic feasibility of the solution and the applicability of the proposed framework is verified through a case study reflecting an existing photovoltaic assisted charging station in the Netherlands and considering the Dutch energy market framework and prices. The study shows that such battery storage system implementation is economically and technically advantageous for the players involved. The battery storage system can stack additional revenues on top of the market revenues. The charging station benefits from a reduced peak power and a 30% tariff reduction, and the system operator would indirectly benefit from the shaved charging station profile. Furthermore, the analysis shows that providing services to the charging station from the battery storage system does not significantly impact its market-related revenues.
AB - Battery Energy Storage Systems typically procure their primary revenues from regulated energy and ancillary services markets; nonetheless, they have great potential in supporting distribution network operators and their users. This paper evaluates the potential business case of battery storage systems integrating market application and services to a photovoltaic assisted electric vehicle fast-charging station. A mathematical deterministic optimization problem is formulated using mixed-integer linear programming to combine battery storage system operation in the day-ahead and frequency regulation market and the remunerated services offered to the charging station. The technical and economic feasibility of the solution and the applicability of the proposed framework is verified through a case study reflecting an existing photovoltaic assisted charging station in the Netherlands and considering the Dutch energy market framework and prices. The study shows that such battery storage system implementation is economically and technically advantageous for the players involved. The battery storage system can stack additional revenues on top of the market revenues. The charging station benefits from a reduced peak power and a 30% tariff reduction, and the system operator would indirectly benefit from the shaved charging station profile. Furthermore, the analysis shows that providing services to the charging station from the battery storage system does not significantly impact its market-related revenues.
KW - Battery energy storage system
KW - day ahead market
KW - distribution network
KW - electric vehicle
KW - fast charging station
KW - financial analysis
KW - mixed integer linear programming
KW - primary frequency regulation
UR - http://www.scopus.com/inward/record.url?scp=85136652075&partnerID=8YFLogxK
U2 - 10.1109/OAJPE.2022.3198553
DO - 10.1109/OAJPE.2022.3198553
M3 - Article
VL - 9
SP - 374
EP - 385
JO - IEEE Open Access Journal of Power and Energy
JF - IEEE Open Access Journal of Power and Energy
SN - 2687-7910
M1 - 9855507
ER -