MIT researchers investigated six mathematical representations to evaluate the potential added value of a battery in an energy system that pairs battery storage with an offshore wind farm.
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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."
