Pusceddu, E;
Zakeri, B;
Castagneto Gissey, G;
(2021)
Synergies between energy arbitrage and fast frequency response for battery energy storage systems.
Applied Energy
, 283
, Article 116274. 10.1016/j.apenergy.2020.116274.
Preview |
Text
manuscript_storage_synergies_20201031_clean.pdf - Accepted Version Download (1MB) | Preview |
Abstract
Energy storage can make key contributions to balancing future low-carbon energy systems by providing a variety of energy system services, with batteries expected to be widely deployed as costs fall with innovation. This paper assesses whether synergies exist between two of the most significant of these services, fast frequency response and energy arbitrage, if a battery energy storage system (BESS) is used to deliver both. A techno-economic model is developed to simulate 600 possible fast frequency response availability windows. Results show that two distinct synergies exist between the two services. The first synergy accounts for the possibility of charging outside the deadband for delivering fast frequency response. We propose an innovative state-of-charge management strategy to exploit this synergy. The second synergy results from energy arbitrage revenues being highly concentrated around peak times, which can enable a battery system to capture most of the arbitrage revenues without an excessive reduction in revenues from capacity provision with enhanced frequency response. The combination of these two synergies means that a battery system could increase its operating profits by 25% by delivering arbitrage and frequency response alternately. This result is shown to be statistically robust using historical data. A battery system able to discharge for 1.5–2 h at its full power rating will most most likely optimise these synergies.
| Type: | Article |
|---|---|
| Title: | Synergies between energy arbitrage and fast frequency response for battery energy storage systems |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1016/j.apenergy.2020.116274 |
| Publisher version: | https://doi.org/10.1016/j.apenergy.2020.116274 |
| Language: | English |
| Additional information: | This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions. |
| Keywords: | Energy storage systemBattery, Ancillary services, Battery management strategy, Renewable energy, Electricity storage, Smart grid, Energy system model |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10117972 |
Archive Staff Only
 |
View Item |
