Abstract
While the technology required to produce viable Battery Energy Storage System exists, the economic feasibility (cost vs. benefits) of building these systems requires justification. First, a generalized decision diagram was developed to ensure that all of the economic factors were considered and properly related for the customer-side-of-the meter. Next, two economic models that had consistently given differing results were compared. One was the McKinney model developed at UM-Rolla in 1987; the second was the SYSPLAN model developed by Battelle. Differences were resolved on a point-by-point basis with reference to the current economic environment. The economic model was upgraded to include the best of both models based on the resolution of these differences. The upgrades were implemented as modifications to the original SYSPLAN (1986 version) to preserve user friendliness. Four specific cases were evaluated and compared. The results were as predicted, since comparison was made with two known models. © 1990 IEEE
Recommended Citation
R. C. Reckrodt et al., "Economic Models For Battery Energy Storage: Improvements For Existing Methods," IEEE Transactions on Energy Conversion, vol. 5, no. 4, pp. 659 - 665, Institute of Electrical and Electronics Engineers, Jan 1990.
The definitive version is available at https://doi.org/10.1109/60.63136
Department(s)
Electrical and Computer Engineering
Second Department
Business and Information Technology
Keywords and Phrases
Battery Energy Storage; Load Leveling; Peak Shaving; Power Distribution Systems
International Standard Serial Number (ISSN)
1558-0059; 0885-8969
Document Type
Article - Journal
Document Version
Citation
File Type
text
Language(s)
English
Rights
© 2023 Institute of Electrical and Electronics Engineers, All rights reserved.
Publication Date
01 Jan 1990
