Ty. Lee et Nm. Chen, DETERMINATION OF OPTIMAL-CONTRACT CAPACITIES AND OPTIMAL SIZES OF BATTERY ENERGY-STORAGE SYSTEMS FOR TIME-OF-USE RATES INDUSTRIAL CUSTOMERS, IEEE transactions on energy conversion, 10(3), 1995, pp. 562-568
This paper sets up the formulation to determine the optimal contract c
apacities and optimal sizes of the battery energy storage systems for
time-of-use rates customers. The advanced multi-pass dynamic programmi
ng and expert knowledge base rules are then applied to solve this prob
lem. Two industrial customers in Taiwan Power Company System are used
as examples to test this algorithm. Results show that the optimal size
s of the battery energy storage systems and the optimal contract capac
ities of the customers during the life cycle of the battery energy sto
rage systems can be achieved by this algorithm; therefore, the maximum
economic benefits of battery energy storage system in a time-of-use r
ates customer can be estimated.