Estimation of Internal Rate of Return for Battery Storage Systems with Parallel Revenue Streams: Cycle-Cost vs. Multi-Objective Optimisation Approach
نویسندگان
چکیده
This paper assesses the profitability of battery storage systems (BSS) by focusing on internal rate return (IRR) as a measure which offers advantages over other frequently used measures, most notably net present value (NPV). Furthermore, this study proposes multi-objective optimisation (MOO) approach to IRR estimation instead relying simple linear and compares results popular with cycle-cost penalty. The analysis is conducted under perfect foresight conditions considering multiple revenue streams: arbitrage trading in day-ahead intraday markets, peak shaving, participating primary reserves market, from photovoltaic (PV) power-generation unit. Data are collected for German power market 2017 2021. show that MOO yields similar estimates model 2017. However, higher volatility increased electricity prices 2021 resulted tangible differences. shows that, if such coupled low capacity price, method significantly outperforms model. effects calendar lifetime state charge decrease also considered. Nevertheless, noticeable rise relative could provide enough compensation address issue relatively poor viability track record.
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ژورنال
عنوان ژورنال: Energies
سال: 2022
ISSN: ['1996-1073']
DOI: https://doi.org/10.3390/en15165859