Research Article Battery Energy Storage Sizing When Time of Use Pricing Is Applied

Copyright © 2014 Guido Carpinelli et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Battery energy storage systems (BESSs) are considered a key device to be introduced to actuate the smart grid paradigm. However, the most critical aspect related to the use of such device is its economic feasibility as it is a still developing technology characterized by high costs and limited life duration. Particularly, the sizing of BESSsmust be performed in an optimizedway in order tomaximize the benefits related to their use.This paper presents a simple and quick closed form procedure for the sizing of BESSs in residential and industrial applications when time-of-use tariff schemes are applied. A sensitivity analysis is also performed to consider different perspectives in terms of life span and future costs. 1