MS in Electrical Engineering (M.S.E.E.)
Degree Granting Department
Wilfrido Moreno, Ph.D.
Ralph Fehr, Ph.D.
Ismail Uysal, Ph.D.
Jianping Qi, Ph.D.
Cost Analysis, Economic Dispatch, Renewable, Financial Instruments, Optimization
This thesis aims to provide a general overview of a cost and benefit analysis of incorporating a battery energy storage system within unit commitment model.
The deregulation of the electricity market in the U.S. has only been around for the last two decades. With renewable energy and energy storage systems becoming less expensive, a decentralized market scheme is becoming more popular and plausible. The scope of this work is to provide a fundamental understanding of unit commitment and a cost analysis of applying a battery energy storage system to an already established power system.
A battery energy storage system (BESS) was placed within a unit commitment schematic and modeled for a 7 day/168 hour forecast. Three models were generated, two with and one without the battery energy storage device (BESS). The comparison between the three systems was conducted to produce a visual economic justification to the feasibility of a BESS.
Scholar Commons Citation
Mihailovic, Nemanja, "A Cost Benefit Analysis of Using a Battery Energy Storage System (BESS) Represented by a Unit Commitment Model" (2018). Graduate Theses and Dissertations.