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- W4315694895 abstract "Ancillary services play a crucial role in maintaining the reliability of electrical power grids with integrated intermittent renewable energy generation. They can also provide additional revenue streams for systems with distributed energy resources (DERs), e.g., battery energy storage systems (BESSs) and gas turbines (GTs). This paper evaluates the benefits of the joint optimization and coordinated control of the BESS and GT for energy arbitrage and ancillary services provision. Specifically, we mathematically model a system with BESS and GT and formulate an optimization problem to maximize the profit through participation in various markets. As a case study, we consider participation in Singapore's wholesale electricity market for energy arbitrage, regulation, and contingency reserve. Our analysis based on Singapore's actual market prices shows that the complimentary nature of BESS and GT can be leveraged for additional revenue through participation in both fast-response regulation market and a relatively slower-response but longer-term contingency reserve market." @default.
- W4315694895 created "2023-01-12" @default.
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- W4315694895 date "2022-11-01" @default.
- W4315694895 modified "2023-09-25" @default.
- W4315694895 title "Joint Optimization of Battery Energy Storage and Gas Turbine for Ancillary Service Provision" @default.
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- W4315694895 doi "https://doi.org/10.1109/isgtasia54193.2022.10003578" @default.
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