Abstract
This paper proposes a non-linear programming (NLP) model to optimally size the energy storage system (ESS) and obtain an optimal energy management for energy arbitrage of an extreme fast charging station (XFCS) for electric vehicles (EVs), with minimized total cost of XFCS operation and ESS investment. Different from most reported work on sizing the ESS for EV charging stations, this paper proposes a pragmatic approach to model the ESS life degradation and accurately count the ESS cycles. Moreover, this work incorporates the peak demand charges in the operational cost of the charging station which are often overlooked in the literature. The proposed model is formulated and solved using AIMMS. Finally, a thorough sensitivity analysis is performed to offer insights into how different input parameters impact the ESS sizing and savings from the energy arbitrage perspective.
Recommended Citation
W. U. Rehman et al., "Sizing Energy Storage System for Energy Arbitrage in Extreme Fast Charging Station," IEEE Power and Energy Society General Meeting, Institute of Electrical and Electronics Engineers, Jan 2021.
The definitive version is available at https://doi.org/10.1109/PESGM46819.2021.9638078
Department(s)
Electrical and Computer Engineering
Keywords and Phrases
degradation modeling; energy arbitrage; energy sizing; energy storage system; power sizing; sensitivity analysis
International Standard Book Number (ISBN)
978-166540507-2
International Standard Serial Number (ISSN)
1944-9933; 1944-9925
Document Type
Article - Conference proceedings
Document Version
Citation
File Type
text
Language(s)
English
Rights
© 2024 Institute of Electrical and Electronics Engineers, All rights reserved.
Publication Date
01 Jan 2021
Comments
U.S. Department of Energy, Grant DE-EE0008449