An energy storage assessment: Using optimal control strategies to capture multiple services

This paper presents a methodology for evaluating benefits of battery storage for multiple grid applications, including energy arbitrage, balancing service, capacity value, distribution system equipment deferral, and outage mitigation. In the proposed method, at each hour, a look-ahead optimization is first formulated and solved to determine battery base operating point. The minute by minute simulation is then performed to simulate the actual battery operation. This methodology is used to assess energy storage alternatives in Puget Sound Energy System. Different battery storage candidates are simulated for a period of one year to assess different value streams and overall benefits, as part of a financial feasibility evaluation of battery storage projects.