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Novel Business Models & Integration Strategies for Energy Storage
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Novel Business Models & Integration Strategies for Energy Storage

A topical collection in Energies (ISSN 1996-1073). This collection belongs to the section "D: Energy Storage and Application".

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Editor

Dr. Dimitrios Zafirakis

E-Mail Website
Guest Editor
Department of Mechanical Engineers, School of Engineering, University of West Attica, 12241 Egaleo-Athens, Greece
Interests: technoeconomic evaluation of energy storage systems; novel RES and storage applications; business models and dispatch strategies; energy systems’ flexibility mechanisms; islands’ clean energy transition

Topical Collection Information

Dear colleagues,

A transition to a cleaner energy mix challenges the flexibility of contemporary electricity systems to facilitate large-scale integration of RES power generation. The desired flexibility to that end reflects upon the elements of energy storage, vector coupling, systems’ integration, and advanced energy management. At the same time, owing to the acccelerating transformation of electricity markets on the one hand and the phase-out of support schemes for RES on the other, different types of energy storage services and applications have emerged across the entire electricity chain, focusing on but not limited to RES managemenent, and including arbitrage, transmission/distribution deferral, congestion management, black start, frequency/voltage regulation, and conventional power generation management, together with in-front of/behind the meter, distributed/centralized, stationary/mobile, and grid-tied/off-grid applications. On the other hand, life-cycle storage costs still remain high for the majority of modern storage technologies, with the exception of more mature ones, such as pumped hydro and compressed air. As such, research work on the development of effective integration strategies and novel business models for energy storage is nowadays considered to be of high importance and relevance for a wide spectrum of applications and actors.

Accordingly, this Special Issue seeks to contribute to the wider energy storage agenda by focusing on modern energy storage services and portfolios and inviting papers looking at the design, implementation, and evaluation of relevant business models and integration strategies for different storage technologies, applications, and market actors, with an emphasis on the support of RES.

Dr. Dimitrios Zafirakis
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the collection website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

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Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • energy storage systems
  • integration strategies
  • business models
  • clean energy transition

Published Papers (5 papers)

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2023

Jump to: 2022, 2021

30 pages, 1746 KiB  
Article
Business Model Selection for Community Energy Storage: A Multi Criteria Decision Making Approach
by Prabha Bhola, Alexandros-Georgios Chronis, Panos Kotsampopoulos and Nikos Hatziargyriou
Energies 2023, 16(18), 6753; https://doi.org/10.3390/en16186753 - 21 Sep 2023
Cited by 1 | Viewed by 1166
Abstract
This paper explores business models for community energy storage (CES) and examines their potential and feasibility at the local level. By leveraging Multi Criteria Decision Making (MCDM) approaches and real-world case studies in Europe and India, it presents insights into CES deployment opportunities, [...] Read more.
This paper explores business models for community energy storage (CES) and examines their potential and feasibility at the local level. By leveraging Multi Criteria Decision Making (MCDM) approaches and real-world case studies in Europe and India, it presents insights into CES deployment opportunities, challenges, and best practices. Different business models, including community energy cooperatives, utility–community partnerships, demand response, energy services, and market mechanisms, are analyzed. The proposed method combines the MCDM method PROMETHEE II with the fuzzy set theory to obtain a complete CES business model ranking, addressing project uncertainties. The analysis emphasizes CES’s role in balancing local renewable energy supply and demand, facilitating energy sharing, and achieving energy independence. Findings prioritize models like Community Cooperative, Energy Arbitrage, and Energy Arbitrage Peak Shaving for CES with renewables. Environmental benefits include reduced diesel use and greenhouse gas emissions. Efficient cooperatives are advocated to recover costs and enable competitive energy prices. The paper highlights the need for novel value propositions to boost the energy transition in local communities. This research contributes to the discourse on CES business models, fostering knowledge exchange and promoting effective strategies for sustainable energy systems. Full article
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19 pages, 6915 KiB  
Article
On the Value of Emerging, Day-Ahead Market Related Wind-Storage Narratives in Greece: An Early Empirical Analysis
by Stefanos Tampakakis and Dimitrios Zafirakis
Energies 2023, 16(8), 3506; https://doi.org/10.3390/en16083506 - 18 Apr 2023
Viewed by 908
Abstract
Large-scale integration of renewable energy sources introduces high levels of uncertainty in power systems. In addressing the inherent uncertainty of renewables, coupling with energy storage systems allows for improved dispatchability, not only in terms of power system integration but also in terms of [...] Read more.
Large-scale integration of renewable energy sources introduces high levels of uncertainty in power systems. In addressing the inherent uncertainty of renewables, coupling with energy storage systems allows for improved dispatchability, not only in terms of power system integration but also in terms of market participation. To that end, we currently look into the coupling of wind energy and energy storage and assess the ex-post value of different, day-ahead market related wind–storage narratives. In doing so, we apply practical dispatch strategies using empirical market signals, vary the size of storage, and adopt different cycling patterns, treating the configurations examined as price-taker units. In addition, by integrating different wind regimes and several years of spot price series, we argue that our approach captures different spatial and temporal characteristics; thus, offering a broad, representative view of the value and associated risk of similar market scenarios in the study area of Greece. Full article
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2022

Jump to: 2023, 2021

24 pages, 12887 KiB  
Article
Battery Storage at the Secondary Distribution Electricity Grid by Investigating End-Users Load Demand Measurements
by Andreas Theocharis and Sahaphol Hamanee
Energies 2022, 15(8), 2743; https://doi.org/10.3390/en15082743 - 08 Apr 2022
Viewed by 1353
Abstract
Energy storage systems is expected to be utilized to cover the increased electrification of energy demands and to alleviate the electrical energy production from intermittent energy sources such as solar and wind. Aggregated and distributed battery energy storage systems may improve electricity grids [...] Read more.
Energy storage systems is expected to be utilized to cover the increased electrification of energy demands and to alleviate the electrical energy production from intermittent energy sources such as solar and wind. Aggregated and distributed battery energy storage systems may improve electricity grids operability and security by providing smart energy management options and efficient resources allocation. In this paper, battery storage at the secondary distribution level is explored. The investigation is based on the end-user energy demand behavior. As such, the electrical energy consumption patterns are measured and analyzed in a residential area. Measurements were collected and analyzed in order to record the customers’ behaviors aiming to reveal their differences and similarities. Following this, aggregated and distributed battery energy storage systems are computed based on the features of the measured electrical power consumption patterns aiming to estimate the factors that could potentially incentivize the installation of a battery system either as aggregated at the low voltage transformer side or as distributed system at the load side. The parameters that affect the economic viability of the system are qualitatively evaluated with regard to the profitability of the system. Full article
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22 pages, 4683 KiB  
Article
Sizing, Optimization, and Financial Analysis of a Green Hydrogen Refueling Station in Remote Regions
by Kosmas A. Kavadias, Vasileios Kosmas and Stefanos Tzelepis
Energies 2022, 15(2), 547; https://doi.org/10.3390/en15020547 - 13 Jan 2022
Cited by 13 | Viewed by 2304
Abstract
Hydrogen (H2) can be a promising energy carrier for decarbonizing the economy and especially the transport sector, which is considered as one of the sectors with high carbon emissions due to the extensive use of fossil fuels. H2 is a [...] Read more.
Hydrogen (H2) can be a promising energy carrier for decarbonizing the economy and especially the transport sector, which is considered as one of the sectors with high carbon emissions due to the extensive use of fossil fuels. H2 is a nontoxic energy carrier that could replace fossil fuels. Fuel Cell Electric Vehicles (FCEVs) can decrease air pollution and reduce greenhouse gases when H2 is produced from Renewable Energy Sources (RES) and at the same time being accessible through a widespread network of Hydrogen Refueling Stations (HRSs). In this study, both the sizing of the equipment and financial analysis were performed for an HRS supplied with H2 from the excess electrical energy of a 10 MW wind park. The aim was to determine the optimum configuration of an HRS under the investigation of six different scenarios with various numbers of FCEVs and monthly demands, as well as ascertaining the economic viability of each examined scenario. The effect of the number of vehicles that the installation can refuel to balance the initial cost of the investment and the fuel cost in remote regions was investigated. The results showed that a wind-powered HRS could be a viable solution when sized appropriately and H2 can be used as a storage mean for the rejected wind energy. It was concluded that scenarios with low FCEVs penetration have low economic performance since the payback period presented significantly high values. Full article
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2021

Jump to: 2023, 2022

29 pages, 15379 KiB  
Article
A Multi-Criteria Decision-Making Approach for Energy Storage Technology Selection Based on Demand
by Xiaotong Qie, Rui Zhang, Yanyong Hu, Xialing Sun and Xue Chen
Energies 2021, 14(20), 6592; https://doi.org/10.3390/en14206592 - 13 Oct 2021
Cited by 9 | Viewed by 2184
Abstract
Energy storage technologies can reduce grid fluctuations through peak shaving and valley filling and effectively solve the problems of renewable energy storage and consumption. The application of energy storage technologies is aimed at storing energy and supplying energy when needed according to the [...] Read more.
Energy storage technologies can reduce grid fluctuations through peak shaving and valley filling and effectively solve the problems of renewable energy storage and consumption. The application of energy storage technologies is aimed at storing energy and supplying energy when needed according to the storage requirements. The existing research focuses on ranking technologies and selecting the best technologies, while ignoring storage requirements. Here, we propose a multi-criteria decision-making (MCDM) framework for selecting a suitable technology based on certain storage requirements. Specifically, we consider nine criteria in four aspects: technological, economic, environmental, and social. The interval number, crisp number, and linguist terms can be transformed into a probabilistic dual hesitant fuzzy set (PDHFS) through the transformation and fusion method we proposed, and a suitable technology can be selected through distance measurements. Subsequently, the proposed method is applied in a representative case study for energy storage technology selection in Shanxi Province, and a sensitivity analysis gives different scenarios for elaboration. The results show that the optimal selection of energy storage technology is different under different storage requirement scenarios. The decision-making model presented herein is considered to be versatile and adjustable, and thus, it can help decision makers to select a suitable energy storage technology based on the requirements of any given use case. Full article
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