Multi-Objective Operation Strategy of Battery Energy Storage System Based on Capital Asset Pricing Model

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  • 資本資産価格モデルに基づく蓄電システムの多目的運用戦略

Abstract

Battery energy storage system (BESS) has been widely used, for example, to stabilize power systems and reduce electricity charges for consumers because it outputs power stably and is easy to control. To implement BESS even more widely, its operational economic efficiency should be improved. In this paper, we propose a multi-objective operation strategy that uses a single BESS owned by an energy service provider to supply power to multiple services (traded products) in the electricity power exchange market and obtain revenue. In the proposed strategy, a charge/discharge plan is determined on the basis of the capital asset pricing model (CAPM) of modern portfolio theory. On the basis of CAPM, the portfolio with the best balance between the risk and expected yearly return is derived and used in determining the charge/discharge plan. The actual yearly performance was evaluated when the BESS was operated with the charge/discharge plan determined by the derived portfolio. Results of a one-year-performance evaluation revealed that the proposed strategy obtained an actual return of 27.6% in comparison with the expected yearly return of 24.2% of the charge/discharge plan.

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