Optimal battery sizing studies tend to overly simplify the practical aspects of battery operation within the battery sizing framework. Such assumptions may lead to a suboptimal battery capacity, resulting in significant financial losses for a battery project that could last more than a decade. In this paper, we compare the most common existing sizing methods in the literature with a battery sizing model that incorporates the practical operation of a battery, that is, receding horizon operation. Consequently, we quantify the financial losses caused by the suboptimal capacities obtained by these models for a realistic case study related to community battery storage (CBS). We develop the case study by constructing a mathematical framework for the CBS and local end users. Our results show that existing sizing methods can lead to financial losses of up to 22%.
@article{arxiv.2310.02494,
title = {On the Financial Consequences of Simplified Battery Sizing Models without Considering Operational Details},
author = {Nam Trong Dinh and Sahand Karimi-Arpanahi and S. Ali Pourmousavi and Mingyu Guo and Julian Lemos-Vinasco and Jon A. R. Liisberg},
journal= {arXiv preprint arXiv:2310.02494},
year = {2023}
}
Comments
This manuscript has been submitted to PSCC 2024 for possible publication