Energy storage system planning

• Main Author: Phang, De Jin
• Other Authors: Dong Zhao Yang
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2023
• Subjects: Engineering::Electrical and electronic engineering::Electric power::Auxiliaries, applications and electric industries
• Online Access: https://hdl.handle.net/10356/172683
• Institution: Nanyang Technological University

Energy Storage System (ESS) is a comprehensive strategy for the integration of energy storage systems (ESS) into power grids within an electricity market environment. This project begins with an in-depth analysis of system requirements, considering factors such as grid capacity, load demand variability, and renewable energy integration. Subsequently, delving into market benefit analysis to quantify the potential economic advantages of ESS implementation is essential. This includes aspects like peak shaving, load leveling, and deferred grid investments. The goal is to develop optimal energy storage projects that not only meet technical specifications but also maximize market benefits. The findings of this projects will provide valuable insights for policymakers, grid operators, and energy market participants in their decision-making processes related to energy storage integration.