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Backward induction 1 Battery energy storage system 1 Electricity market 1 Empirical simulation 1 Hotelling’s rule 1 Reserve service 1
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Cho, Joohyun 1 Kleit, Andrew N. 1
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Applied Energy 1
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Energy storage systems in energy and ancillary markets: A backwards induction approach
Cho, Joohyun; Kleit, Andrew N. - In: Applied Energy 147 (2015) C, pp. 176-183
Battery storage technologies have developed to the point that some are mature enough to serve as a generation resource. However, whether a battery can generate profits by interacting solely in energy markets is unclear. Meanwhile, FERC order 784 requires electricity exchange markets in the U.S....
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