What are the dispatch approaches for energy storage in power system operations?

Summary of dispatch approaches for energy storage in power system operations. Extended optimization horizon or window of foresight: extend the optimization horizon to consider more than one day at time or add additional foresight (look-ahead window). Straightforward implementation and consistent with current market settings.

Does exogenous dispatch model represent optimal operation of energy storage technologies?

The exogenous dispatch model may not accurately represent the optimal operation of energy storage technologies due to necessary simplifications in dispatch model. Stored Energy Value: use the marginal future value of storing an additional unit of energy (usually in $/MWh) to operate the storage devices.

Could a better storage dispatch approach reduce production costs?

A better storage dispatch approach could reduce production costs by 4 %–14 %. Energy storage technologies, including short-duration, long-duration, and seasonal storage, are seen as technologies that can facilitate the integration of larger shares of variable renewable energy, such as wind and solar photovoltaics, in power systems.

Should energy-limited resources be modeled in uncertainty-aware multistage dispatch?

As energy-limited resources, ESS should be carefully modeled in uncertainty-aware multistage dispatch. On the modeling side, we develop a two-stage model for ESS that respects the nonanticipativity of multistage dispatch, and implement it into a distributionally robust model predictive control scheme.

Can long-duration energy storage dispatch approaches reduce production costs?

Long-duration energy storage dispatch approaches are reviewed. Performance of energy storage dispatch approaches is assessed. A novel metric for energy storage capacity credit estimation is proposed. A better storage dispatch approach could reduce production costs by 4 %–14 %.

Does LDEs dispatch increase the standard capacity credit of energy storage capacity?

However, regardless of the test system and energy mix, the ideal LDES dispatch approach increases the standard capacity credit of total energy storage capacity (combined short-duration and LDES) (e.g., an increase between 8.8 % and 15.7 % on the standard capacity credit of the total energy storage capacity).