Optimizing Battery Sizing To Maximize Economic Return | Presentation by Dr. Travis Simpkins

Watch Dr. Travis Simpkins Chief Technical Officer with muGrid Analytics as he presents on "Optimizing Battery Sizing and Dispatching To Maximize Economic Return".

This presentation was recorded at the June 13th, 2018 meeting of the Boulder Chapter of the Colorado Renewable Energy Society.

Video produced by Natural Focus Digital, an environmental video production and aerial cinematography company based in Boulder, Colorado. To learn more visit: https://www.naturalfocusdigital.com/

Full Program Description and Bio:
The installation of battery energy storage in behind-the-meter applications is poised for exponential growth over the next few years. Batteries can be combined with renewables such as solar or wind and conventional diesel generation to form grid-connected microgrids meaning that these assets can operate for economic benefit when the grid is functional and then provide resiliency during grid outages. The key to making such hybrid systems economically viable is to stack revenue from multiple applications, such as peak demand charge reduction, energy arbitrage, providing ancillary services to the grid, and participating in demand response programs, among others. The added resiliency that these systems offer can then be obtained essentially for free.

In this talk, we’ll show how we use our mathematical optimization model to optimally size hybrid systems to maximize the economic return from these various values steams. We’ll show graphical examples of how the optimal battery dispatch strategy changes from hour-to-hour and month-to-month in response to changes in the electrical load profile, electricity prices, and market conditions. Then we’ll demonstrate how we perform stochastic simulations to quantify the added resiliency that these systems can bring when the grid collapses and these systems are islanded.

Dr Travis Simpkins is a recognized expert in the design, modeling and economic optimization of microgrids. He is currently Chief Technical Officer of muGrid Analytics, which provides techno-economic analysis of renewable energy and energy storage projects to developers, utilities and component manufacturers using their proprietary Redcloud energy optimization platform. Prior to muGrid, Travis was a Senior Engineer at the National Renewable Energy Lab, where he helped the US Department of Defense and other federal agencies improve their energy surety and resiliency using high-penetration renewable microgrids. Travis has an SM and PhD in Electrical Engineering and Computer Science from the Massachusetts Institute of Technology, a certificate of Financial Engineering from the MIT Sloan School of Management, and a BSc in Electrical Engineering and Applied Physics from Case Western Reserve University. He is a senior member of the IEEE and has published numerous papers in the fields of renewable energy, battery energy storage, integrated circuits and applied optics.

This Presentation was organized by the Boulder Chapter of the Colorado Renewable Energy Society. Contact us at bcres@cres-energy.org or visit us online at https://www.cres-energy.org/

CRES features several local monthly speaker series throughout the state, provides speakers, experts, workshops and weighs in on state energy policy.

Video produced, recorded and edited by Natural Focus Digital, an environmental video production and aerial cinematography company based in Boulder, Colorado. To learn more visit: https://www.naturalfocusdigital.com/

Видео Optimizing Battery Sizing To Maximize Economic Return | Presentation by Dr. Travis Simpkins канала Colorado Renewable Energy Society (CRES)