Picture of wind turbine against blue sky

Open Access research with a real impact...

The Strathprints institutional repository is a digital archive of University of Strathclyde research outputs.

The Energy Systems Research Unit (ESRU) within Strathclyde's Department of Mechanical and Aerospace Engineering is producing Open Access research that can help society deploy and optimise renewable energy systems, such as wind turbine technology.

Explore wind turbine research in Strathprints

Explore all of Strathclyde's Open Access research content

Towards an objective method to compare energy storage technologies: development and validation of a model to determine the upper boundary of revenue available from electrical price arbitrage

Barbour, Edward and Wilson, Ian Allan Grant and Bryden, Ian and McGregor, Peter and Mulheran, Paul and Hall, Peter (2012) Towards an objective method to compare energy storage technologies: development and validation of a model to determine the upper boundary of revenue available from electrical price arbitrage. Energy & Environmental Science. ISSN 1754-5692 (In Press)

Full text not available in this repository. (Request a copy from the Strathclyde author)

Abstract

This article proposes a methodology to calculate the upper boundary of the revenue available from the storage and time-shifting of electrical energy. The inputs to the mathematical model are a discrete time series of the market index prices over a particular period of interest, and also specific energy storage device parameters. By using a Monte Carlo based optimisation method, the upper boundary of the revenue from time-shifting energy is determined. The method is explained and validated by showing that it finds the optimum solution that is the upper boundary for time-shifting revenue for a variety of storage device characteristics.