{"title":"Breakeven analysis of energy storage systems in PJM energy markets","authors":"M. Salles, Taina N. Gadotti, M. Aziz, W. Hogan","doi":"10.1109/ICRERA.2017.8191092","DOIUrl":null,"url":null,"abstract":"Energy arbitrage is attracting interest of Energy Storage Systems developers and owners to provide net revenue in transmission and distribution systems. We have analyzed the potential revenue of a generic Energy Storage System (ESS) within the electricity market of PJM in 8 deferent locations where such technology is already installed. We used hourly Day-Ahead and Real-time locational marginal prices over the seven-year period 2008–2014, assuming a price-taking dispatch with perfect foresight. The charge-discharge profiles were optimized to determine The minimum potential revenue for 1 MW system for 70% round trip efficiency in those 8 locations. We performed a sensitivity analysis to verify the dependence on rated discharge duration and its variation over the years. We determined the breakeven overnight installed cost below which energy arbitrage would be profitable.","PeriodicalId":6535,"journal":{"name":"2017 IEEE 6th International Conference on Renewable Energy Research and Applications (ICRERA)","volume":"90 1","pages":"395-400"},"PeriodicalIF":0.0000,"publicationDate":"2017-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"4","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"2017 IEEE 6th International Conference on Renewable Energy Research and Applications (ICRERA)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/ICRERA.2017.8191092","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 4
Abstract
Energy arbitrage is attracting interest of Energy Storage Systems developers and owners to provide net revenue in transmission and distribution systems. We have analyzed the potential revenue of a generic Energy Storage System (ESS) within the electricity market of PJM in 8 deferent locations where such technology is already installed. We used hourly Day-Ahead and Real-time locational marginal prices over the seven-year period 2008–2014, assuming a price-taking dispatch with perfect foresight. The charge-discharge profiles were optimized to determine The minimum potential revenue for 1 MW system for 70% round trip efficiency in those 8 locations. We performed a sensitivity analysis to verify the dependence on rated discharge duration and its variation over the years. We determined the breakeven overnight installed cost below which energy arbitrage would be profitable.
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