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The rapid expansion of wind and solar energy leads to an increasing volatility in the electricity generation. Previous studies have shown that storage devices provide an opportunity to balance fluctuations in the power grid. An economical…
Optimal power management of battery energy storage systems (BESS) is crucial for their safe and efficient operation. Numerical optimization techniques are frequently utilized to solve the optimal power management problems. However, these…
Distributed, controllable energy storage devices offer several benefits to electric power system operation. Three such benefits include reducing peak load, providing standby power, and enhancing power quality. These benefits, however, are…
In this study, an optimization problem is proposed in order to obtain the maximum economic benefit from wind farms with variable and intermittent energy generation in the day ahead and balancing electricity markets. This method, which is…
To accommodate the changes in the nature and pattern of electricity consumption with the available resources, utility companies have introduced a variety of rate structures over the years. This paper develops a comprehensive optimization…
Grid-connected hybrid renewable power systems with energy storage can reduce the intermittency of renewable power supply. However, emerging energy storage technologies need improvement to compete with lithium-ion batteries and reduce the…
Large-scale battery energy storage systems (BESS) are helping transition the world towards sustainability with their broad use, among others, in electrified transportation, power grid, and renewables. However, optimal power management for…
This paper investigates the electricity storage requirements to support the transition towards a high renewable energy source (RES) penetration in a cost-optimal manner. The achieved reduction of renewable energy curtailments and the…
This work seeks to quantify the benefits of using energy storage toward the reduction of the energy generation cost of a power system. A two-fold optimization framework is provided where the first optimization problem seeks to find the…
In this paper, we consider the problem of optimal demand response and energy storage management for a power consuming entity. The entity's objective is to find an optimal control policy for deciding how much load to consume, how much power…
Volatile electrical energy prices are a challenge and an opportunity for small and medium-size companies in energy-intensive industries. By using electrical energy storage and/or an adaptation of production processes, companies can…
Integrating a high share of electricity from non-dispatchable Renewable Energy Sources in a power supply system is a challenging task. One option considered in many studies dealing with prospective power systems is the installation of…
Energy storage systems (ESSs) are essential components of the future smart grid to smooth out the fluctuating output of renewable energy generators. However, installing large number of ESSs for individual energy consumers may not be…
The high variability of renewable energy resources presents significant challenges to the operation of the electric power grid. Conventional generators can be used to mitigate this variability but are costly to operate and produce carbon…
With increasingly favorable economics and bundling of different grid services, energy storage systems (ESS) are expected to play a key role in integrating renewable generation. This work considers the coordination of ESS owned by customers…
We consider the residential energy storage management system with integrated renewable generation, with the availability of bidirectional energy flow from and to the grid thorough buying and selling. We propose a real-time bidirectional…
This paper applies computational techniques of convex stochastic optimization to optimal operation and valuation of electricity storages in the face of uncertain electricity prices. Our approach is applicable to various specifications of…
The fluctuations of electricity prices in demand response schemes and intermittency of renewable energy supplies necessitate the adoption of energy storage in microgrids. However, it is challenging to design effective real-time energy…
Battery Energy Storage Systems (BESS) can mitigate effects of intermittent energy production from renewable energy sources and play a critical role in peak shaving and demand charge management. To optimally size the BESS from an economic…
Energy storage systems (ESSs) are essential components of the future smart grids with high penetration of renewable energy sources. However, deploying individual ESSs for all energy consumers, especially in large systems, may not be…