The purpose of this report was to review pertinent literature and studies that might reveal models capable of optimizing the siting, sizing and economic value of energy storage in the future smart grid infrastructure. Energy storage technology and utility system deployment have been subjects of intense research and development for over three decades. During this time, many models have been developed that consider energy storage implementation in the electric power industry and other applications. Nevertheless, this review of literature discovered no actual models and only a few software tools that relate specifically to the application environment and expected requirements of the evolving smart grid infrastructure. This report indicates the existing need for such a model and describes a pathway for developing it.
Revised: July 30, 2012 |
Published: September 24, 2010