Economics of energy storage in a residential consumer context

• Type: Article in International Conference Proceedings Book
• Date: 2016-06-06

Authors

João Tomé Saraiva (Author) FEUP; Dennis Metz (Author) FEUP

Conference proceedings International

Title: 13th International Conference on the European Energy Market

Pages: 1-5

Indexing

ISI Web of Knowledge

ISI Web of Science

Scopus

INSPEC

Scientific classification

CORDIS: Technological sciences > Engineering > Electrical engineering

FOS: Engineering and technology > Electrical engineering, Electronic engineering, Information engineering

Other information

DOI: 10.1109/EEM.2016.7521204

Abstract (EN): With the increase of electricity tariffs and the decreasing costs for distributed generation technologies, more and more residential consumers are deploying local generation systems to satisfy their electricity demand in order to reduce overall cost. Typically, however, a mismatch between electricity generation and demand remains. Storage systems enable consumers to reduce this mismatch by storing locally generated electricity for later consumption, instead of feeding excess generation into the grid. This paper analyzes the economics of storage installations in a residential consumer context. A linear program is presented to determine the optimal dispatch, and Simulated Annealing is used to identify the cost minimizing system configuration. The developed approach is tested for a multi-family house in Germany.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 5