Optimal Operation of Energy Storage with Random Renewable Generation and AC/DC Loads

26 May 2017 Jin Jiangliang ESD Renewable Energy Storage Optimisation

PhD Student
Jin Jiangliang, Engineering Systems and Design

Xu Yunjian, Assistant Professor, Engineering Systems and Design

Energy from renewable sources (e.g. solar and wind power) forms part of the total energy supply for some consumers. Where such supply is intermittent with electricity prices varying throughout the day, consumers need to find a way to optimise their energy storage such that their expected energy cost is minimised.
Conventional dynamic programming solutions for optimising energy storage do not take into account the differences in AC/DC conversion efficiencies for different devices. Using a finite-horizon dynamic programming solution, a more comprehensive model for managing energy storage is provided.
Results show that the optimised solution saves 5-12% of the total energy cost resulting from conventional solutions. Furthermore, with a higher proportion of renewable energy generation (e.g. an increase in average solar generation from 40% to 100% of total usage), the net benefit obtained by consumers increases (from 7.2% to 14.9% of the maximum energy cost for an 80kWh storage).

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