Preprint Article Version 1 This version is not peer-reviewed

Quantification of the Energy Storage Contribution to Security of Supply through the F-Factor methodology

Version 1 : Received: 2 December 2019 / Approved: 3 December 2019 / Online: 3 December 2019 (11:52:19 CET)

How to cite: Giannelos, S.; Djapic, P.; Pudjianto, D.; Strbac, G. Quantification of the Energy Storage Contribution to Security of Supply through the F-Factor methodology. Preprints 2019, 2019120025 (doi: 10.20944/preprints201912.0025.v1). Giannelos, S.; Djapic, P.; Pudjianto, D.; Strbac, G. Quantification of the Energy Storage Contribution to Security of Supply through the F-Factor methodology. Preprints 2019, 2019120025 (doi: 10.20944/preprints201912.0025.v1).

Abstract

The ongoing electrification of the heat and transport sectors is expected to lead to a substantial increase in peak electricity demand over the coming decades, which may drive significant investment in network reinforcement in order to maintain a secure supply of electricity to consumers. The traditional way of security provision has been based on conventional investments such as the upgrade of the capacity of electricity transmission or distribution lines. However, the energy storage technology can also provide security of supply, thereby constituting a cost-efficient alternative to expensive conventional reinforcements. In this context, the current paper presents a methodology for the economic quantification of the security contribution of energy storage. This methodology makes use of mathematical optimization for the calculation of the F-factor metric, which reflects the optimal amount of peak demand reduction as compared to the power capability of the energy storage asset. In this context, a case study is presented in which the security contribution of energy storage is analyzed as a function of its power capability, energy capacity and efficiency as well as of characteristics of load patterns.

Subject Areas

f-factors; energy storage; investments in electricity systems; mathematical optimization; security of supply

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