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• W2017160129 abstract "This paper proposes a systematic approach to size an optimized Energy Storage System (ESS) to reduce the cost of energy to a distribution system with a high penetration of wind generation. The optimized sizing depends on the marginal benefit of implementing a higher ESS size versus the cost of increasing the ESS size, and it can be maximized through arbitrage in jurisdictions that implement a Time-of-Use (TOU) energy pricing scheme. Monte Carlo Simulations are performed to determine the random distribution of cost benefits of implementing a pre-sized ESS, to which a least-squares error approach to surface fitting is used to determine the expected monetized benefit. The optimized size is then obtained by setting the derivative of the benefit minus the cost of implementation curves to zero, and solving for the sizes." @default.
• W2017160129 created "2016-06-24" @default.
• W2017160129 creator A5063213894 @default.
• W2017160129 creator A5080048573 @default.
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• W2017160129 date "2013-01-01" @default.
• W2017160129 modified "2023-10-15" @default.
• W2017160129 title "A methodology for optimized Energy Storage sizing with stochastic resources" @default.
• W2017160129 cites W1561616042 @default.
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• W2017160129 doi "https://doi.org/10.1109/pesmg.2013.6672948" @default.
• W2017160129 hasPublicationYear "2013" @default.
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