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.
| Item type: | Article |
|---|---|
| ID code: | 36251 |
| Keywords: | electrical price arbitrage , electrical energy , time-shifting, electrical storage, Chemical engineering |
| Subjects: | Technology > Chemical technology > Chemical engineering |
| Department: | Faculty of Engineering > Chemical and Process Engineering Strathclyde Business School > Economics |
| Related URLs: | |
| Depositing user: | Pure Administrator |
| Date Deposited: | 01 Dec 2011 16:54 |
| Last modified: | 04 Oct 2012 14:08 |
| URI: | http://strathprints.strath.ac.uk/id/eprint/36251 |
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