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Optimal sizing of battery energy storage system in commercial buildings utilizing techno-economic analysis

Finding the correct battery size is important to the project's financial success. Many studies utilize complicated simulations to identify the optimal battery size. It is also difficult to reuse the outcomes of such optimization in other projects. In this paper, by introducing the factor β as t...

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Main Authors: Ashabi, A., Peiravi, M.M., Nikpendar, P., Nasab, S. Salehi, Jaryani, F.
Format: Article
Published: Materials and Energy Research Center 2022
Subjects:
TA Engineering (General). Civil engineering (General)
Online Access:http://eprints.um.edu.my/43618/
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spelling my.um.eprints.436182023-10-24T06:20:49Z http://eprints.um.edu.my/43618/ Optimal sizing of battery energy storage system in commercial buildings utilizing techno-economic analysis Ashabi, A. Peiravi, M.M. Nikpendar, P. Nasab, S. Salehi Jaryani, F. TA Engineering (General). Civil engineering (General) Finding the correct battery size is important to the project's financial success. Many studies utilize complicated simulations to identify the optimal battery size. It is also difficult to reuse the outcomes of such optimization in other projects. In this paper, by introducing the factor β as the energy to power ratio, a simple techno-economic model is proposed to allow a quick evaluation of the feasibility of a building-integrated battery energy storage system (BI-BESS) and can apply to all commercial buildings that use the same tariff structure and is independent on the building load profile. Because the battery's energy and power are coupled, defining β allows both metrics to be addressed, resulting in high accuracy. For validating the results, the load profile from a commercial building based on Malaysia's tariff structure is used, and the optimal size of the battery is obtained from the proposed techno-economic model with the help of a Benefit-cost ratio (BCR) and simple iterative model for peak shaving. The results reveal that after finding the optimal BCR=1.08, the optimal battery size is achieved at 66.84 kWh. However, considering the market interests in the payback period, the economic feasibility of installing BESS is evaluated at BCR= 1.7, which is higher than our results. Hence, the impact of battery cost reduction is assessed. © 2022 Materials and Energy Research Center. All rights reserved. Materials and Energy Research Center 2022-08 Article PeerReviewed Ashabi, A. and Peiravi, M.M. and Nikpendar, P. and Nasab, S. Salehi and Jaryani, F. (2022) Optimal sizing of battery energy storage system in commercial buildings utilizing techno-economic analysis. International Journal of Engineering, Transactions B: Applications, 35 (8). pp. 1662-1673. ISSN 1025-2495, DOI https://doi.org/10.5829/ije.2022.35.08b.22 <https://doi.org/10.5829/ije.2022.35.08b.22>. 10.5829/ije.2022.35.08b.22
institution Universiti Malaya
building UM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaya
content_source UM Research Repository
url_provider http://eprints.um.edu.my/
topic TA Engineering (General). Civil engineering (General)
spellingShingle TA Engineering (General). Civil engineering (General)
Ashabi, A.
Peiravi, M.M.
Nikpendar, P.
Nasab, S. Salehi
Jaryani, F.
Optimal sizing of battery energy storage system in commercial buildings utilizing techno-economic analysis
description Finding the correct battery size is important to the project's financial success. Many studies utilize complicated simulations to identify the optimal battery size. It is also difficult to reuse the outcomes of such optimization in other projects. In this paper, by introducing the factor β as the energy to power ratio, a simple techno-economic model is proposed to allow a quick evaluation of the feasibility of a building-integrated battery energy storage system (BI-BESS) and can apply to all commercial buildings that use the same tariff structure and is independent on the building load profile. Because the battery's energy and power are coupled, defining β allows both metrics to be addressed, resulting in high accuracy. For validating the results, the load profile from a commercial building based on Malaysia's tariff structure is used, and the optimal size of the battery is obtained from the proposed techno-economic model with the help of a Benefit-cost ratio (BCR) and simple iterative model for peak shaving. The results reveal that after finding the optimal BCR=1.08, the optimal battery size is achieved at 66.84 kWh. However, considering the market interests in the payback period, the economic feasibility of installing BESS is evaluated at BCR= 1.7, which is higher than our results. Hence, the impact of battery cost reduction is assessed. © 2022 Materials and Energy Research Center. All rights reserved.
format Article
author Ashabi, A.
Peiravi, M.M.
Nikpendar, P.
Nasab, S. Salehi
Jaryani, F.
author_facet Ashabi, A.
Peiravi, M.M.
Nikpendar, P.
Nasab, S. Salehi
Jaryani, F.
author_sort Ashabi, A.
title Optimal sizing of battery energy storage system in commercial buildings utilizing techno-economic analysis
title_short Optimal sizing of battery energy storage system in commercial buildings utilizing techno-economic analysis
title_full Optimal sizing of battery energy storage system in commercial buildings utilizing techno-economic analysis
title_fullStr Optimal sizing of battery energy storage system in commercial buildings utilizing techno-economic analysis
title_full_unstemmed Optimal sizing of battery energy storage system in commercial buildings utilizing techno-economic analysis
title_sort optimal sizing of battery energy storage system in commercial buildings utilizing techno-economic analysis
publisher Materials and Energy Research Center
publishDate 2022
url http://eprints.um.edu.my/43618/
_version_ 1781704684396871680
score 13.211869

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