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dc.contributor.authorHE, Xian
dc.contributor.authorDELARUE, Erik
dc.contributor.authorD'HAESELEER, William
dc.contributor.authorGLACHANT, Jean-Michel 
dc.date.accessioned2010-11-22T09:15:06Z
dc.date.available2010-11-22T09:15:06Z
dc.date.issued2010
dc.identifier.issn1028-3625
dc.identifier.urihttp://hdl.handle.net/1814/14994
dc.description.abstractElectricity storage is considered a valuable source of flexibility whose applications cover the whole electricity value chain. However, most of the existing evaluation methods for electricity storage are conceived for only one specific use of the storage, which often leads to the conclusion that the investment on storage does not pay off. We think that the value of storage cannot be properly estimated without taking into account the possibility of aggregating the services that storage can offer to different actors. In this paper, we propose a new business model that allows aggregating multiple revenue streams of electricity storage in a systematic way. The main idea of the business model is to coordinate a series of auctions in which the right to utilize the storage unit is auctioned in different time horizons. The model consists of an optimization module and a coordination mechanism. The former simulates the optimal strategy of a certain actor using the available storage capacities in a certain auction, while the latter ensures non-conflicting uses of storage by actors in different auctions. The functioning of the model is demonstrated by a case study. The results show that a storage unit can achieve a higher return on investment in the manner proposed in the business model.en
dc.format.mimetypeapplication/pdf
dc.language.isoenen
dc.relation.ispartofseriesEUI RSCASen
dc.relation.ispartofseries2010/82en
dc.relation.ispartofseriesLoyola de Palacio Programme on Energy Policyen
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectelectricity storageen
dc.subjectbusiness modelen
dc.subjectoptimizationen
dc.titleA Novel Business Model for Aggregating the Values of Electricity Storageen
dc.typeWorking Paperen
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