In this post, I discuss an energy storage model to analyze the energy arbitrage potential in a day-ahead electricity market. Energy arbitraging takes advantage of the price variations in the market where energy is bought at low prices and sold at high prices, thereby producing a profit. However, the profit depends on several factors, such…
Please consider reading the related analysis “Photovoltaic (PV) and energy storage: a viable symbiosis or an overrated investment?“. Description and step-wise instructions on how to use the Python code The analysis was conducted in Python and the corresponding scripts and data can be downloaded by following the link above. The scripts are flexible so that…
The quick answer is – it depends… Technical cost-benefit analysis of a PV system complemented with energy storage for increased electricity self-sufficiency. Questions In order to properly analyze the costs and benefits of complementing a PV system with a storage system to increase self-sufficiency, several questions need to be answered. In the following, these questions…
Background Peak shaving has been around for many years and it still has some interesting applications. One obvious application is the reduction of high load peaks of industrial processes in order to reduce the demand charge which is determined by the maximum load that occurred within a given time frame, i.e. the lower the peak…