Optimal energy storing and selling in continuous time stochastic multi-battery setting
We consider the problem of optimal energy storing and dispatching for a grid-connected energy producer with battery energy storage system (BESS). We suggests an optimal operating algorithm that helps to increase the income given limited storage capacity and unpredictable fluctuations of the producti...
| Main Author: | |
|---|---|
| Format: | Journal Article |
| Published: |
Cornell University Library
2015
|
| Online Access: | http://hdl.handle.net/20.500.11937/39254 |
| Summary: | We consider the problem of optimal energy storing and dispatching for a grid-connected energy producer with battery energy storage system (BESS). We suggests an optimal operating algorithm that helps to increase the income given limited storage capacity and unpredictable fluctuations of the production rate and selling prices. In addition, the operating algorithm takes into account preferable regimes for charging and discharging the batteries, this can help to prolong the battery life. The problem is solved as a special stochastic control problem in a domain where the state processes have to remains in a domain but are allowed to run on the domain boundary. An equation for the optimal value function is derived in continuous time setting. Numerical methods based on duality and pathwise optimization for estimation of the optimal solution are suggested. |
|---|