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Breakeven Analysis of Energy Storage Systems in PJM Energy Markets

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10.1109/ICRERA.2017.8191092

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Mauricio B.C. Salles, Taina N. Gadotti, Michael J. Aziz, & William W. Hogen. 2017. Breakeven Analysis of Energy Storage Systems in PJM Energy Markets. 6th International Conference on Renewable Energy Research and Application, San Diego CA Nov 5-8 2017.

Abstract

Energy arbitrage is attracting interest of Energy Storage Systems developers and owners to provide net revenue in transmission and distribution systems. We have analyzed the potential revenue of a generic Energy Storage System (ESS) within the electricity market of PJM in 8 deferent locations where such technology is already installed. We used hourly Day-Ahead and Real-time locational marginal prices over the seven-year period 2008-2014, assuming a price-taking dispatch with perfect foresight. The charge-discharge profiles were optimized to determine The minimum potential revenue for 1 MW system for 70% round trip efficiency in those 8 locations. We performed a sensitivity analysis to verify the dependence on rated discharge duration and its variation over the years. We determined the breakeven overnight installed cost below which energy arbitrage would be profitable.

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http://nrs.harvard.edu/urn-3:HUL.InstRepos:42595160

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