Status: Published
**Citation:**Merrick, J.H., Bistline, J.E. and Blanford, G.J., 2024. On representation of energy storage in electricity planning models. Published in Energy Economics, Volume 136, August 2024. https://doi.org/10.1016/j.eneco.2024.107675
Energy storage is projected to grow into a larger component of future sources on the electric grid, but its complexity across cost, value, and performance dimensions makes it challenging to fully capture in electric planning models. This paper in the peer review literature summarizes a novel approach for addressing one of those challenges: maintaining a representation of chronology in the temporal aggregation of electric planning models. Exploring electric sector economics pulls together many decision variables, leading to time-intensive studies when all options are included at detailed levels of temporal and spatial granularity. Options for temporal aggregation, including the “expected value” method proposed here, are compared in this paper to build a foundation for energy storage modeling that supports energy systems optimization while maintaining lower computational costs.
Link to Journal Publication: On representation of energy storage in electricity planning models - ScienceDirect