The DOI matches its Crossref record; 23 of the 23 references it cites were found in a registry or an index.
Factoring the Cycle Aging Cost of Batteries Participating in Electricity Markets
Abstract
When participating in electricity markets, owners of battery energy storage systems must bid in such a way that their revenues will at least cover their true cost of operation. Since cycle aging of battery cells represents a substantial part of this operating cost, the cost of battery degradation must be factored in these bids. However, existing models of battery degradation either do not fit market clearing software or do not reflect the actual battery aging mechanism. In this paper we model battery cycle aging using a piecewise linear cost function, an approach that provides a close approximation of the cycle aging mechanism of electrochemical batteries and can be incorporated easily into existing market dispatch programs. By defining the marginal aging cost of each battery cycle, we can assess the actual operating profitability of batteries. A case study demonstrates the effectiveness of the proposed model in maximizing the operating profit of a battery energy storage system taking part in the ISO New England energy and reserve markets.
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Cites
Electrical energy storage for the grid: A battery of choices
Dunn, B., Kamath, H., & Tarascon, J.-M. (2011) · Science · doi:10.1126/science.1212741 · Cited by 15,072
Ageing mechanisms in lithium-ion batteries
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Electrical energy storage systems: A comparative life cycle cost analysis
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Cycle-life model for graphite-LiFePO4 cells
Wang, J., Liu, P., Hicks-Garner, J., Sherman, E., Soukiazian, S., Verbrugge, M., Tataria, H., Musser, J., & Finamore, P. (2011) · Journal of Power Sources · doi:10.1016/j.jpowsour.2010.11.134 · Cited by 1,760
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Modeling of Lithium-Ion Battery Degradation for Cell Life Assessment
Xu, B., Oudalov, A., Ulbig, A., Andersson, G., & Kirschen, D. S. (2018) · IEEE Transactions on Smart Grid · doi:10.1109/tsg.2016.2578950 · Cited by 1,162
Self-citationCalendar and cycle life study of Li(NiMnCo)O2-based 18650 lithium-ion batteries
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Modeling and Simulation of Lithium-Ion Batteries from a Systems Engineering Perspective
Northrop, P. W. C., De, S., Braatz, R. D., Ramadesigan, V., Northrop, P. W. C., Santhanagopalan, S., & Subramaniana, V. R. (2011) · Cited by 748
Wang, J., Purewal, J., Liu, P., Hicks-Garner, J., Soukazian, S., Sherman, E., Sorenson, A., Vu, L., Tataria, H., & Verbrugge, M. W. (2014) · Journal of Power Sources · doi:10.1016/j.jpowsour.2014.07.030 · Cited by 514
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Cited by
Masaud, T. M., & El-Saadany, E. (2023) · IEEE Systems Journal · doi:10.1109/jsyst.2023.3285147 · Cited by 26
Metadata
- Authors
- Xu, B., Zhao, J., Zheng, T., Litvinov, E., & Kirschen, D. S.
- Venue
- IEEE Transactions on Power Systems
- Published
- 2018-03
- Volume
- 33
- Issue
- 2
- Pages
- 2248-2259
- ISSN
- 0885-8950 (ISSN-L)
- 1558-0679
- OpenAlex
- W2964022432
- Cited by
- 384
- References
- 23
- FWCI
- 10.52
- Type
- journal article
- Language
- en
- Open access
- closed
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- Xu, B., Zhao, J., Zheng, T., Litvinov, E., & Kirschen, D. S. (2018). Factoring the Cycle Aging Cost of Batteries Participating in Electricity Markets. IEEE Transactions on Power Systems. https://doi.org/10.1109/tpwrs.2017.2733339
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