Planning of Battery Energy Storage Systems Accounting for Uncertainties and Degradation

The paper proposes a tool for the optimal sizing of an end user's battery energy storage system. The sizing is performed considering demand response applications with real time energy prices. The procedure, which takes into account also the battery degradation due to some stress factors, is performed based on uncertainties of generation, load, weather conditions, discount rate and energy price. Particularly, the sizing of the storage device is aimed at maximizing the economic benefit of the end user