As global energy needs are increasing and renewable energy systems become more common, energy storage is becoming a pivotal component in the global energy landscape. Current research being conducted in our lab includes a techno-economic analysis of various energy storage technologies including lithium ion (Li-ion) batteries, sodium-sulfur batteries, lead-acid batteries, flow batteries, super capacitor, superconducting magnetic, thermal, flywheel, pumped -hydro, and compressed air. Applications are targeted at demand-side management in industrial facilities.
One of the most promising solutions for reliable energy storage is Li-ion batteries. Through optimizing the charging and discharging of battery energy storage an industrial facility can achieve savings by reducing peak demand and shifting its energy usage from on-peak hours to off-peak hours.
An energy storage dispatch optimization model was developed to simulate peak clipping and load shifting control strategies of the energy storage system to maximize cost savings for industrial facility owners. Many different sized energy systems are tested with various discharge durations to find optimally sized energy storage systems for demand response applications.