Assessment of storage system benefits on the reliability and the cost of composite electric power systems

Koksal A., Özdemir A.

7th IEEE International Energy Conference, ENERGYCON 2022, Riga, Latvia, 9 - 12 May 2022 identifier

  • Publication Type: Conference Paper / Full Text
  • Doi Number: 10.1109/energycon53164.2022.9830161
  • City: Riga
  • Country: Latvia
  • Keywords: Battery Energy Storage System, Composite System Reliability Assessment, Compressed Air Energy Storage, Cost-Effectivity, Energy Storage systems, Monte Carlo simulation
  • Istanbul Technical University Affiliated: Yes

Abstract

© 2022 IEEE.Increasing penetration of intermittent renewable generation and demand uncertainty in electric power systems has accelerated the efforts to improve system reliability. This study presents a method to identify the benefits of the two representative storage systems in composite electric power systems in terms of system reliability and cost-effectivity. At first, the reliability indices of the system are determined using the results of contingency analysis integrated with Monte Carlo simulations. Then the total costs, including the generation, storage, and low-reliability costs, are calculated. The proposed method is applied to the IEEE-RTS-96 test system to quantify the benefits. The two alternatives, namely, Compressed Air Energy Storage Systems (CAES) and Battery Energy Storage Systems (BESS), are compared to their overall cost benefits.