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Optimizing Battery Sizing and Dispatching To Maximize Economic Return

Carey O’Donnell

Travis Simpkins, PhD

Battery energy storage is poised for rapid growth in both behind-the-meter and utility-scale installations due in large part to significant reductions in installed costs of this technology. Such energy storage systems can derive revenue by serving a variety of applications which include, among others, demand charge management, energy arbitrage, ancillary services, and resiliency. In many cases, however, the value of the benefits from any one of these applications are still less than the cost of the system. As a result, there is strong interest in stacking revenue streams, or serving multiple applications at different times over the course of a year. The challenge then is to determine which applications to serve and when to serve them, to assure that the economic return of the battery system is maximized over its lifespan.

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