Cost-Benefit Analysis of Battery Energy Storage in Electric Power Grids: Research and Practices

Iver Bakken Sperstad; Maren Istad; Hanne Sæle; Magnus Korpås; Irina Oleinikova; Seppo Hänninen; Sergio  Motta; Konstantina Panagiotou; Christina Papadimitriou; Venizelos Efthymiou; Chresten Træholt; Mattia Marinelli

doi:10.1109/ISGT-Europe47291.2020.9248895

Cost-Benefit Analysis of Battery Energy Storage in Electric Power Grids: Research and Practices

Iver Bakken Sperstad
, Maren Istad
, Hanne Sæle
, Magnus Korpås
, Irina Oleinikova
, Seppo Hänninen
, Sergio Motta
, Konstantina Panagiotou
, Christina Papadimitriou
, Venizelos Efthymiou
, Chresten Træholt
, Mattia Marinelli

SINTEF
Norwegian University of Science and Technology
VTT Technical Research Centre of Finland Ltd.
University of Cyprus

Research output: Chapter in Book/Report/Conference proceeding › Article in proceedings › Research › peer-review

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Abstract

This paper provides an overview of methods for including Battery Energy Storage Systems (BESS) into electric power grid planning. The general approach to grid planning is the same with and without BESS, but when BESS is included as an alternative, other methods are necessary, which adds significant complexity to the planning problem. Although recent research literature proposes a wide range of methods and models for Cost-Benefit Analysis (CBA) of BESS for grid applications, these are to a little extent applied in practice. For the research-based methods to be suitable for grid planning, they should handle timing of installations as well as sizing and siting of BESS. Moreover, they must capture long-term developments in load and generation. Finally, the CBA methods need realistic modelling of the operational benefits of BESS, taking into account multi-period AC power flow, battery degradation, and utilization for multiple grid services.

Original language	English
Title of host publication	Proceedings of 2020 IEEE PES International Conference and Exhibition onInnovative Smart Grid Technologies
Number of pages	5
Publisher	IEEE
Publication date	2020
Article number	9248895
ISBN (Print)	978-1-7281-7101-2
DOIs	https://doi.org/10.1109/ISGT-Europe47291.2020.9248895
Publication status	Published - 2020
Event	2020 IEEE PES Innovative Smart Grid Technologies Europe - Virtual event Duration: 25 Oct 2020 → 28 Oct 2020 https://ieee-isgt-europe.org/

Conference

Conference	2020 IEEE PES Innovative Smart Grid Technologies Europe
Location	Virtual event
Period	25/10/2020 → 28/10/2020
Internet address	https://ieee-isgt-europe.org/

Keywords

Battery storage
Cost-benefit analysis
Electric power grid
Power system planning

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10.1109/ISGT-Europe47291.2020.9248895

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Sperstad, I. B., Istad, M., Sæle, H., Korpås, M., Oleinikova, I., Hänninen, S., Motta, S., Panagiotou, K., Papadimitriou, C., Efthymiou, V., Træholt, C., & Marinelli, M. (2020). Cost-Benefit Analysis of Battery Energy Storage in Electric Power Grids: Research and Practices. In Proceedings of 2020 IEEE PES International Conference and Exhibition onInnovative Smart Grid Technologies Article 9248895 IEEE. https://doi.org/10.1109/ISGT-Europe47291.2020.9248895

@inproceedings{50227b4e3a724c13be533d0bf1b1b55c,

title = "Cost-Benefit Analysis of Battery Energy Storage in Electric Power Grids: Research and Practices",

abstract = "This paper provides an overview of methods for including Battery Energy Storage Systems (BESS) into electric power grid planning. The general approach to grid planning is the same with and without BESS, but when BESS is included as an alternative, other methods are necessary, which adds significant complexity to the planning problem. Although recent research literature proposes a wide range of methods and models for Cost-Benefit Analysis (CBA) of BESS for grid applications, these are to a little extent applied in practice. For the research-based methods to be suitable for grid planning, they should handle timing of installations as well as sizing and siting of BESS. Moreover, they must capture long-term developments in load and generation. Finally, the CBA methods need realistic modelling of the operational benefits of BESS, taking into account multi-period AC power flow, battery degradation, and utilization for multiple grid services. ",

keywords = "Battery storage, Cost-benefit analysis, Electric power grid, Power system planning",

author = "Sperstad, \{Iver Bakken\} and Maren Istad and Hanne S{\ae}le and Magnus Korp{\aa}s and Irina Oleinikova and Seppo H{\"a}nninen and Sergio Motta and Konstantina Panagiotou and Christina Papadimitriou and Venizelos Efthymiou and Chresten Tr{\ae}holt and Mattia Marinelli",

year = "2020",

doi = "10.1109/ISGT-Europe47291.2020.9248895",

language = "English",

isbn = "978-1-7281-7101-2",

booktitle = "Proceedings of 2020 IEEE PES International Conference and Exhibition onInnovative Smart Grid Technologies",

publisher = "IEEE",

address = "United States",

note = "2020 IEEE PES Innovative Smart Grid Technologies Europe, IEEE-PES-ISGT-Europe 2020 ; Conference date: 25-10-2020 Through 28-10-2020",

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Sperstad, IB, Istad, M, Sæle, H, Korpås, M, Oleinikova, I, Hänninen, S, Motta, S, Panagiotou, K, Papadimitriou, C, Efthymiou, V, Træholt, C & Marinelli, M 2020, Cost-Benefit Analysis of Battery Energy Storage in Electric Power Grids: Research and Practices. in Proceedings of 2020 IEEE PES International Conference and Exhibition onInnovative Smart Grid Technologies., 9248895, IEEE, 2020 IEEE PES Innovative Smart Grid Technologies Europe, 25/10/2020. https://doi.org/10.1109/ISGT-Europe47291.2020.9248895

Cost-Benefit Analysis of Battery Energy Storage in Electric Power Grids: Research and Practices. / Sperstad, Iver Bakken; Istad, Maren; Sæle, Hanne et al.
Proceedings of 2020 IEEE PES International Conference and Exhibition onInnovative Smart Grid Technologies. IEEE, 2020. 9248895.

Research output: Chapter in Book/Report/Conference proceeding › Article in proceedings › Research › peer-review

TY - GEN

T1 - Cost-Benefit Analysis of Battery Energy Storage in Electric Power Grids: Research and Practices

AU - Sperstad, Iver Bakken

AU - Istad, Maren

AU - Sæle, Hanne

AU - Korpås, Magnus

AU - Oleinikova, Irina

AU - Hänninen, Seppo

AU - Motta, Sergio

AU - Panagiotou, Konstantina

AU - Papadimitriou, Christina

AU - Efthymiou, Venizelos

AU - Træholt, Chresten

AU - Marinelli, Mattia

PY - 2020

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N2 - This paper provides an overview of methods for including Battery Energy Storage Systems (BESS) into electric power grid planning. The general approach to grid planning is the same with and without BESS, but when BESS is included as an alternative, other methods are necessary, which adds significant complexity to the planning problem. Although recent research literature proposes a wide range of methods and models for Cost-Benefit Analysis (CBA) of BESS for grid applications, these are to a little extent applied in practice. For the research-based methods to be suitable for grid planning, they should handle timing of installations as well as sizing and siting of BESS. Moreover, they must capture long-term developments in load and generation. Finally, the CBA methods need realistic modelling of the operational benefits of BESS, taking into account multi-period AC power flow, battery degradation, and utilization for multiple grid services.

AB - This paper provides an overview of methods for including Battery Energy Storage Systems (BESS) into electric power grid planning. The general approach to grid planning is the same with and without BESS, but when BESS is included as an alternative, other methods are necessary, which adds significant complexity to the planning problem. Although recent research literature proposes a wide range of methods and models for Cost-Benefit Analysis (CBA) of BESS for grid applications, these are to a little extent applied in practice. For the research-based methods to be suitable for grid planning, they should handle timing of installations as well as sizing and siting of BESS. Moreover, they must capture long-term developments in load and generation. Finally, the CBA methods need realistic modelling of the operational benefits of BESS, taking into account multi-period AC power flow, battery degradation, and utilization for multiple grid services.

KW - Battery storage

KW - Cost-benefit analysis

KW - Electric power grid

KW - Power system planning

U2 - 10.1109/ISGT-Europe47291.2020.9248895

DO - 10.1109/ISGT-Europe47291.2020.9248895

M3 - Article in proceedings

SN - 978-1-7281-7101-2

BT - Proceedings of 2020 IEEE PES International Conference and Exhibition onInnovative Smart Grid Technologies

PB - IEEE

T2 - 2020 IEEE PES Innovative Smart Grid Technologies Europe

Y2 - 25 October 2020 through 28 October 2020

ER -

Cost-Benefit Analysis of Battery Energy Storage in Electric Power Grids: Research and Practices

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Conference

Keywords

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