Energy arbitrage and market opportunities for energy storage facilities in Ontario

摘要

Fourier analysis is presented for 10 years of Hourly Ontario Energy Price data (2005–2015) to identify primary governing frequencies driving the price. As anticipated, a 24 h cycle was found to be most prominent each year. Simulation of the revenue generation performance of a standardized energy storage system of 1 MW power rating and 1 MWh energy capacity was completed with various charge and discharge times. The best performing operation programs are presented and discussed. Multi-cycle operation was also considered and an equation for multi-cycle yearly revenue has been defined based on a storage program performance coefficient. Overall, revenue simulations indicate that energy storage facilities are not financially viable under current market conditions without additional subsidies and payments from the grid controller.