On the value and price-responsiveness of ramp-constrained storage

作     者：Faghih, Ali Roozbehani, Mardavij Dahleh, Munther A. 

作者机构：MIT Elect Engn & Comp Sci EECS Dept Cambridge MA 02139 USA MIT Lab Informat & Decis Syst Cambridge MA 02139 USA 

出 版 物：《ENERGY CONVERSION AND MANAGEMENT》 (能量转换与管理)

年 卷 期：2013年第76卷

页      面：472-482页

核心收录：

学科分类：0820[工学-石油与天然气工程] 08[工学] 0807[工学-动力工程及工程热物理] 0801[工学-力学（可授工学、理学学位）] 

基　　金：National Science Foundation Graduate Research Fellowship MIT Energy Initiative Seed Fund Draper Laboratories 

主　　题：Ramp-constrained energy storage Stochastic dynamic programming Control systems 

摘      要：The primary concerns of this paper are twofold: understanding the value of storage in the presence of ramp constraints and exogenous energy prices, and understanding the implications of the associated optimal storage management policy for qualitative and quantitative characteristics of storage response to real-time prices. The optimal policy, along with the associated finite-horizon time-averaged value of storage, are analytically characterized in this paper. An analytical upper bound on the infinite-horizon time-averaged value of storage is also derived. This bound is valid for any achievable realization of prices when the support of the distribution is fixed, and highlights the dependence of the value of storage on ramp constraints and storage capacity. It is shown that while the value of storage is a non-decreasing function of price volatility, due to the finite ramp rate, the value of storage saturates quickly as the capacity increases, regardless of volatility. To study the implications of the optimal policy, computational experiments are presented that suggest optimal utilization of storage can, in expectation, induce a considerable amount of price elasticity near the average price. Then, a computational framework is presented for characterization of the behavior of storage as a function of price and the state of charge, which illustrates a steep buy/sell phase transition in the price-state plane. (C) 2013 Elsevier Ltd. All rights reserved.