Optimal Sizing and Operation of Energy Storage for Demand Charge Management and PV Utilization

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Publication Date: 4/17/2018

Event: 2018 IEEE PES T&D, Denver, CO USA

Reference: pp 1-5, 2018

Authors: Mohammad Rasoul Narimani, Missouri University of Science and Technology, NEC Laboratories America, Inc.; Babak Asghari, NEC Laboratories America, Inc.; Ratnesh Sharma, NEC Laboratories America, Inc.

Abstract: This paper presents a method to determine optimal energy and power capacity of distributed Energy Storage Systems (ESS) in behind-the-meter applications to maximize local Photovoltaic (PV) utilization or minimize Demand Charge (DC) cost. The problem is solved as a multi-objective optimization model to obtain a set of Pareto optimal solutions for each scenario in each month. An approach is then presented to map the monthly Pareto fronts into a single yearly Pareto front. A cost benefit analysis has also been carried out to show the compromise between PV utilization, DC cost, and ESS cost.

Publication Link: https://ieeexplore.ieee.org/document/8440302