Title: Assessing the Economics of Customer-Sited Multi-Use Energy Storage,
Abstract: This paper presents an approach to assess the economics of customer-sited
energy storage systems (ESSs) which are owned and operated by a customer. The
ESSs can participate in frequency regulation and spinning reserve markets, and
are used to help the customer consume available renewable energy and reduce
electricity bill. A rolling-horizon approach is developed to optimize the
service schedule, and the resulting costs and revenues are used to assess
economics of the ESSs. The economic assessment approach is illustrated with
case studies, from which we obtain some new observations on profitability of
the customer- sited multi-use ESSs.