Lithium-Ion Battery Charging Schedule Optimization to Balance Battery Usage and Degradation

Abstract: This work optimizes a lithium-ion battery charging schedule while considering a joint revenue and battery degradation model. The study extends the work of Meheswari et. al. to encourage battery usage/charging at optimal intervals depending on energy cost forecasts. This paper utilizes central difference Nesterov momentum gradient descent to come to optimal charging strategies and deal with the non-linearities of the battery degradation model. This optimization strategy is tested against constant, random varied price forecasts and a novel Gaussian process cost forecasting model. Contrary to many other papers regarding battery charging, formulating schedule optimization as a multivariate optimization problem provides meaningful insight to the inherent balance between these two competing objectives.