NDLI: Optimal battery pricing and energy management for microgrids

Content Provider	IEEE Xplore Digital Library
Author	Eshghi, S. Patil, R.M.
Copyright Year	2015
Description	Author affiliation: NEC Labs. America, Princeton, NJ, USA (Patil, R.M.) \|\| Dept. of Electr. & Syst. Eng., Univ. of Pennsylvania, Philadelphia, PA, USA (Eshghi, S.)
Abstract	This paper develops an optimal dispatch strategy for a microgrid's resources through battery pricing. A microgrid fulfills local demand using local generation (conventional and renewable) and storage, along with the electric grid (macrogrid). Demand and renewables such as Photovoltaic (PV) generation are uncertain throughout the day. Optimal management of the resources in a microgrid is necessary to integrate the uncertain renewable energy, serve the uncertain demand and provide the highest returns in terms of cost or emissions. The approach developed in this paper requires minimal modeling effort with regards to uncertainties and emphasizes battery pricing using realized profiles of demand and PV generation. We show that the optimal decision at each time instant is an economic dispatch that takes a rigorously-defined shadow-price for the battery power as input. Furthermore, we show that the calculation of this shadow-price can be simplified to avoid state-constraints in the computation of the optimal control solution. Finally, the results highlight the practical utility of this approach and the developed quasi-optimal solution is comparable to the deterministic optimum cost.
Starting Page	4994
Ending Page	5001
File Size	1576139
Page Count	8
File Format	PDF
e-ISBN	9781479986842
DOI	10.1109/ACC.2015.7172117
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2015-07-01
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	American Automatic Control Council(AACC)
Subject Keyword	Batteries Microgrids Uncertainty Optimal control System-on-chip Resource management Pricing
Content Type	Text
Resource Type	Article

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