473060 Operation of Grid Scale Energy Storage Systems: Comparison of Multi-Stage Stochastic Programming and Empc
Due to the uncertainty of consumer demand as well as that of renewable generation, the problem of optimal placement of these storage units within the grid along with the selection of equipment sizes must be formulated as a stochastic program. However, rather than being a fairly simple two-stage stochastic program, the dynamics imposed by the storage devices requires the formulation to be of the far more challenging multistage class. Due to the computationally intense nature of multistage stochastic programming, many have advocated the use of Economic MPC. The objective of this work is to provide a head-to-head comparison of feedback policies generated from multi-stage stochastic programming and EMPC. This comparison of policies provides a validation of EMPC based equipment design procedures.