Real time battery energy storage system control optimization considering multiple revenue streams - RETISOCS

15 December 2021 → 29 February 2024
Regional and community funding: Industrial Research Fund
Research disciplines
  • Engineering and technology
    • Modelling not elsewhere classified
    • Other electrical and electronic engineering not elsewhere classified
    • Other product development not elsewhere classified
Peak shaving Ancillary services Grid flexibility Energy market Battery energy storage systems
Project description

Battery energy storage systems (BESS) play a crucial role in the framework of the European Green Deal and more specifically with regard to the future flexibility of energy supply. So far, in most applications BESS are only used for a single purpose (usually to increase the self-sufficiency of PV systems or to maintain the power balance in the whole synchronous European interconnected network system - so called FCR). It can be easily shown that the battery is either under-utilised most of the time or even inactive for longer periods.

In order to increase the return on investment (ROI) in a battery system, a multi-objective environment is proposed where the BESS is deployed for multiple purposes, possibly simultaneously, in order to generate greater battery utilisation and consequently higher revenue streams.