Energy Cost Minimization with Hybrid Energy Storage System Using Optimization Algorithm

The purpose of this study is to develop an effective control method for a hybrid energy storage system composed by flow battery daily balancing and lithium-ion provide peak power. It assumed that the operates behind meter, goal minimize cost in presence PV installation (as example local renewable source) prices are determined 3-zone tariffs. article presents application optimization schedule operation each system. authors have defined aimed at minimizing total system, taking into account costs batteries depreciation. techno-economical model including degradation, constructed methods implemented Python. results validated with real price profiles compared conventional strategies. advantages terms discussed. experiment shows not only successful lowering increasing self-consumption but also slightly different properties, benefits issues.