Power System Dispatch with Marginal Degradation Cost of Battery Storage

DOI10.1109/TPWRS.2020.3048401MaRDI QIDQ6317302zbMATH OpenFDO

Authors Guannan He, Soummya Kar, Javad Mohammadi, Panayiotis Moutis, Jay F. Whitacre

Publication date 16 April 2019

Full work available at URL https://doi.org/10.1109/TPWRS.2020.3048401

Abstract: Battery storage is essential for the future smart grid. The inevitable cell degradation renders the battery lifetime volatile and highly dependent on battery dispatch, and thus incurs opportunity cost. This paper rigorously derives the marginal degradation cost of battery for power system dispatch. The derived optimal marginal degradation cost is time-variant to reflect the time value of money and the functionality fade of battery and takes the form of a constant value divided by a discount factor plus a term related to battery state of health. In case studies, we demonstrate the evolution of the optimal marginal costs of degradation that corresponds to the optimal long-term dispatch outcome. We also show that the optimal marginal cost of degradation depends on the marginal cost of generation in the grid.

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