A shortage probability metric for battery depletion risk |
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| Institution: | 1. Naval Postgraduate School, Operations Research Department, Monterey, CA, 93940, USA;2. Rutgers University, Supply Chain Management Department, Newark, NJ, 07102, USA |
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| Abstract: | In this paper, we propose a battery depletion risk (BDR) metric that evaluates the probability of depleting an energy storage system in the context of a centralized power system with stochastic demand and supply for electricity across multiple consecutive time periods. This newly proposed reliability metric informs battery sizing decisions to mitigate outage risks. We demonstrate the applicability of this metric by embedding it in an economic dispatch model with thermal generation units and a centralized energy storage system. |
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| Keywords: | Brownian bridge Reliability Energy storage systems Loss of load probability Battery sizing |
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