Large-scale electrochemical energy storage is a technology that is uniquely suited to integrate intermittent renewable energy sources with the electric grid on a large scale. Grid-based energy storage also has the potential to reduce costs associated with periods of peak electric demand. For these reasons, this work describes the potential applications for grid-based energy storage, and then reviews large-scale energy storage technology innovations since the development of the lead-acid battery. The potential value of grid-based battery energy storage is discussed in the context of restructured electricity markets; then, a dynamic model-based economic optimization routine is developed to gauge the potential value of a vanadium redox flow battery (VRFB) operating for wholesale energy arbitrage and frequency regulation in Texas. Based on this analysis, the relative value of a VRFB in various regions of Texas for energy arbitrage and frequency regulation is examined. It is shown that frequency regulation is an appealing application for a grid-based VRFB, with a VRFB utilized for frequency regulation service in Texas potentially worth approximately $1500/kW. Finally, the effect of a VRFB’s characteristics on its value for frequency regulation and energy arbitrage are compared, and the operational insight developed in this work is used to glean how policies to integrate a large-scale energy storage with the electricity market might be crafted. / text
| Identifer | oai:union.ndltd.org:UTEXAS/oai:repositories.lib.utexas.edu:2152/ETD-UT-2012-08-6271 |
| Date | 06 November 2012 |
| Creators | Fares, Robert Leo |
| Source Sets | University of Texas |
| Language | English |
| Detected Language | English |
| Type | thesis |
| Format | application/pdf |
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