Economic and operational evaluation of PV and CHP combined with energy storage systems considering energy and regulation markets

Khashavar Mahani, Maryam Arabzadeh Jamali, Seyyed Danial Nazemi, Mohsen A. Jafari

Research output: Chapter in Book/Report/Conference proceedingConference contribution

2 Scopus citations

Abstract

The efficient and clean energy utilization paradigm has proved to be a realistic and economical solution to reduce greenhouse gas emissions and increase the efficiency of the energy network. Recently, more projects have been focused on Distributed Energy Resources (DERs) including photovoltaic (PV) panel, combined heat and power (CHP), fuel-cell (FC), and energy storage systems, due to their capability to be utilized as local resources to reduce the power loss because of long-distance transmission. In this paper, we present a mathematical model to evaluate the operational and financial analysis on DERs such as CHP, PV systems, and thermal/electrical energy storage installed at the behind-the-meter (BTM) customers' premises considering both energy and ancillary services markets. The objective is to drive the financial and resiliency value of DERs and determine the key factors such as DER portfolios, and the pricing structures of electricity and natural gas distribution companies (EDCs and GDCs). We conclude that different types of energy tariffs will affect the financial aspect of DER projects. Also, findings emphasize the critical role of incentive programs for energy storage systems in increasing the resiliency of the power grid during blackouts.

Original languageEnglish (US)
Title of host publication2020 IEEE Texas Power and Energy Conference, TPEC 2020
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781728144368
DOIs
StatePublished - Feb 2020
Event2020 IEEE Texas Power and Energy Conference, TPEC 2020 - College Station, United States
Duration: Feb 6 2020Feb 7 2020

Publication series

Name2020 IEEE Texas Power and Energy Conference, TPEC 2020

Conference

Conference2020 IEEE Texas Power and Energy Conference, TPEC 2020
CountryUnited States
CityCollege Station
Period2/6/202/7/20

All Science Journal Classification (ASJC) codes

  • Computer Networks and Communications
  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering
  • Safety, Risk, Reliability and Quality

Keywords

  • Distributed energy resources
  • Energy market
  • Energy storage systems
  • Regulation market
  • Resiliency

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