In an isolated power grid or a micro-grid with a small carbon footprint, the penetration of renewable energy is usually high. In such power grids, energy storage is important to guarantee an uninterrupted and stable power supply for end users. Different types of energy storage have different characteristics, including their round-trip efficiency, power and energy rating, selfdischarge, and investment and maintenance costs. In addition, the load characteristics and availability of different types of renewable energy sources vary in different geographic regions and at different times of year. Therefore joint capacity optimization for multiple types of energy storage and generation is important when designing this type of power systems. In this paper, we formulate a cost minimization problem for storage and generation planning, considering both the initial investment cost and operational/maintenance cost, and propose a distributed optimization framework to overcome the difficulty brought about by the large size of the optimization problem. The results will help in making decisions on energy storage and generation capacity planning in future decentralized power grids with high renewable penetrations. -Capacity planning, distributed optimization, energy storage, micro-grid, renewable energy sources. NOMENCLATURE: Set of different renewable generators Types of renewable generators Renewable generation per unit generation capacity during time period Renewable energy cost during time period Renewable generation during time period Maximum generation capacity Set of different energy storage types Types of energy storage Rated power/energy ratio One-way energy efficiency Energy storage capacity Energy loss ratio per unit time Index Terms
REF studies the problem of jointly optimizing multiple energy storage, renewable generator, and diesel generator capacities in the context of a micro-grid with a small carbon print.
Joint Optimization of Hybrid Energy Storage and Generation Capacity With Renewable Energy
IEEE Transactions on Smart Grid
IEEE Transactions on Smart Grid
Mathematics Engineering Computer Science