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|Title:||Optimal sizing of energy storage system for wind power plants|
|Authors:||Shu, Z. |
Monte Carlo sampling
|Source:||Shu, Z.,Jirutitijaroen, P. (2012). Optimal sizing of energy storage system for wind power plants. IEEE Power and Energy Society General Meeting : -. ScholarBank@NUS Repository. https://doi.org/10.1109/PESGM.2012.6345647|
|Abstract:||This paper proposes a stochastic programming approach to the solution of sizing problem of energy storage system applied to grid-connected wind power plants. The objective is to maximize expected daily profit though time shifting of renewable energy production. The problem is formulated considering stochastic behaviors of renewable power as well as electricity prices. We apply stochastic programming framework with Sample Average Approximation (SAA). We conduct a case study using data from the Electric Council Reliability Council of Texas (ERCOT). It is shown that considerable profit can be achieved with a suitable energy storage size. © 2012 IEEE.|
|Source Title:||IEEE Power and Energy Society General Meeting|
|Appears in Collections:||Staff Publications|
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