Abstract:
As wind energy projects in New England continue to be built and integrated into the electric grid, there needs to be a tool to analyze which energy distributing strategies will yield high revenues to make wind energy a necessary addition to the current energy portfolio. Furthermore, having a powerful battery to store extra wind-generated energy is an important feature, and the additional revenue it generates must be considered. Without battery storage, the New England grid will be wasting valuable wind energy if it is being generated at non-peak usage times. As such, it is imperative for policymakers to be able to predict battery storage, so we used data from ISO New England to create a novel simulation. Our team built a network model to calculate the value of adding battery storage for offshore wind renewable energy by exploring different methods for the battery to charge and discharge electricity. Using four different battery storage scenarios, the most revenue-efficient method to generate and store electricity can be evaluated and implemented by New England energy stakeholders and policymakers.