Lithium-ion battery technologies currently dominate the advanced energy storage market — a sector of increasing importance as more focus is put on variable renewable energy generation and reliability to help decarbonize the global energy system. But according to MIT researchers, prevailing battery models can actually overestimate the battery’s revenue in an energy storage system by 35 percent.
“Current modeling is not very representative of how these batteries actually operate,” says MIT Energy Initiative (MITEI) research scientist Apurba Sakti. “These models often do not account for degradation, or the lifetime of the batteries, which directly impacts the costs and the added value of the energy storage system.”
To address this gap, Sakti worked with colleagues in the MIT Laboratory for Information and Decision Systems (LIDS) to investigate six mathematical representations, incorporating increasing degrees of detail and representation of battery degradation, to evaluate energy- and capacity-market revenues generated from the pairing of a battery energy storage system (BESS) — in this case, a lithium-ion battery — with an offshore wind farm.
Their findings were recently published in the journal Applied Energy in a paper by Sakti, the principal investigator; Mehdi Jafari, the lead author and a postdoc in MIT LIDS; and Audun Botterud, a principal research scientist in MIT LIDS with a co-appointment at Argonne National Laboratory.
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