Assessing the value of energy storage systems for distribution grid applications (2307.09380v1)

Abstract: We analyze the potential benefits that energy storage systems (ESS) can bring to distribution networks in terms of cost, stability and flexibility. We propose an optimization model for the optimal sizing, siting, and operation of storage systems in distribution grids. A DistFlow formulation is used for modeling the AC power flow. The ESS model is based on a generic formulation that captures the charging and discharging modes' complementarity. The resulting optimization model is stated as a mixed-integer quadratically constrained program (MIQCP) problem. The optimization model is assessed on the modified 33-bus IEEE network, which includes renewable energy resources and ESS. The obtained results show that ESS can offer various important benefits such as overall cost reduction, energy arbitrage, voltage regulation, and congestion management in distribution grids. These findings highlight the significance of utilizing ESS technologies to provide aggregated value through various grid services, extending beyond energy arbitrage alone.