IEEE Electrification - December 2021 - 38

By Jeremy B. Twitchell and Alan S. Cooke
Emerging
Best Practices
for Modeling
Energy Storage
in Integrated
Resource Plans
An overview and a comparison.
E
NERGY STORAGE TECHNOLOGIES ARE A
unique class of energy resource, capable
of providing service across the electric
grid's four functional levels: generation,
transmission, distribution, and customer
(Koohi-Fayegh and Rosen 2020). The rapid growth of
intermittent energy resources, driven by state and utility
decarbonization goals, is creating a growing need for
energy storage to match unpredictable generation with
customer demand (Gür 2018). However, the primary
tool that many utilities use to identify grid investments-the
integrated resource plan (IRP)-was not
designed to consider the unique characteristics of
energy storage.
In preparing an IRP, an electric utility forecasts the
demand of its customers and identifies the necessary
investments to meet that demand under various
Digital Object Identifier 10.1109/MELE.2021.3115557
Date of current version: 1 December 2021
38
IEEE Electrification Magazine / DECEMBER 2021
future scenarios. The objective function of an IRP is to
create the lowest-cost portfolio of generation resources
and demand-side measures (such as energy efficiency
and demand response) that will meet future
needs while minimizing the risk across the potential
futures studied.
Preparing an IRP is a complex endeavor that requires
multiple models and many simplifying assumptions.
There is a wide range of IRP modeling software developed
for commercial use or by utilities for in-house
use, and those models perform a variety of functions.
At its core, however, an IRP requires the use of four
model types.
x Market forecast: Whether a utility operates within a
regional energy market or conducts bilateral trades
with neighboring utilities, the value of its generation
resources will affect and be affected by regional energy
market conditions. By forecasting the performance
of regional energy markets, a utility can have an
informed estimate of the value of its existing and
2325-5897/21©2021IEEE

IEEE Electrification - December 2021

Table of Contents for the Digital Edition of IEEE Electrification - December 2021

IEEE Electrification - December 2021 - Cover1
IEEE Electrification - December 2021 - Cover2
IEEE Electrification - December 2021 - 1
IEEE Electrification - December 2021 - 2
IEEE Electrification - December 2021 - 3
IEEE Electrification - December 2021 - 4
IEEE Electrification - December 2021 - 5
IEEE Electrification - December 2021 - 6
IEEE Electrification - December 2021 - 7
IEEE Electrification - December 2021 - 8
IEEE Electrification - December 2021 - 9
IEEE Electrification - December 2021 - 10
IEEE Electrification - December 2021 - 11
IEEE Electrification - December 2021 - 12
IEEE Electrification - December 2021 - 13
IEEE Electrification - December 2021 - 14
IEEE Electrification - December 2021 - 15
IEEE Electrification - December 2021 - 16
IEEE Electrification - December 2021 - 17
IEEE Electrification - December 2021 - 18
IEEE Electrification - December 2021 - 19
IEEE Electrification - December 2021 - 20
IEEE Electrification - December 2021 - 21
IEEE Electrification - December 2021 - 22
IEEE Electrification - December 2021 - 23
IEEE Electrification - December 2021 - 24
IEEE Electrification - December 2021 - 25
IEEE Electrification - December 2021 - 26
IEEE Electrification - December 2021 - 27
IEEE Electrification - December 2021 - 28
IEEE Electrification - December 2021 - 29
IEEE Electrification - December 2021 - 30
IEEE Electrification - December 2021 - 31
IEEE Electrification - December 2021 - 32
IEEE Electrification - December 2021 - 33
IEEE Electrification - December 2021 - 34
IEEE Electrification - December 2021 - 35
IEEE Electrification - December 2021 - 36
IEEE Electrification - December 2021 - 37
IEEE Electrification - December 2021 - 38
IEEE Electrification - December 2021 - 39
IEEE Electrification - December 2021 - 40
IEEE Electrification - December 2021 - 41
IEEE Electrification - December 2021 - 42
IEEE Electrification - December 2021 - 43
IEEE Electrification - December 2021 - 44
IEEE Electrification - December 2021 - 45
IEEE Electrification - December 2021 - 46
IEEE Electrification - December 2021 - 47
IEEE Electrification - December 2021 - 48
IEEE Electrification - December 2021 - 49
IEEE Electrification - December 2021 - 50
IEEE Electrification - December 2021 - 51
IEEE Electrification - December 2021 - 52
IEEE Electrification - December 2021 - 53
IEEE Electrification - December 2021 - 54
IEEE Electrification - December 2021 - 55
IEEE Electrification - December 2021 - 56
IEEE Electrification - December 2021 - 57
IEEE Electrification - December 2021 - 58
IEEE Electrification - December 2021 - 59
IEEE Electrification - December 2021 - 60
IEEE Electrification - December 2021 - 61
IEEE Electrification - December 2021 - 62
IEEE Electrification - December 2021 - 63
IEEE Electrification - December 2021 - 64
IEEE Electrification - December 2021 - 65
IEEE Electrification - December 2021 - 66
IEEE Electrification - December 2021 - 67
IEEE Electrification - December 2021 - 68
IEEE Electrification - December 2021 - 69
IEEE Electrification - December 2021 - 70
IEEE Electrification - December 2021 - 71
IEEE Electrification - December 2021 - 72
IEEE Electrification - December 2021 - 73
IEEE Electrification - December 2021 - 74
IEEE Electrification - December 2021 - 75
IEEE Electrification - December 2021 - 76
IEEE Electrification - December 2021 - 77
IEEE Electrification - December 2021 - 78
IEEE Electrification - December 2021 - 79
IEEE Electrification - December 2021 - 80
IEEE Electrification - December 2021 - 81
IEEE Electrification - December 2021 - 82
IEEE Electrification - December 2021 - 83
IEEE Electrification - December 2021 - 84
IEEE Electrification - December 2021 - Cover3
IEEE Electrification - December 2021 - Cover4
https://www.nxtbook.com/nxtbooks/pes/electrification_december2022
https://www.nxtbook.com/nxtbooks/pes/electrification_september2022
https://www.nxtbook.com/nxtbooks/pes/electrification_june2022
https://www.nxtbook.com/nxtbooks/pes/electrification_march2022
https://www.nxtbook.com/nxtbooks/pes/electrification_december2021
https://www.nxtbook.com/nxtbooks/pes/electrification_september2021
https://www.nxtbook.com/nxtbooks/pes/electrification_june2021
https://www.nxtbook.com/nxtbooks/pes/electrification_march2021
https://www.nxtbook.com/nxtbooks/pes/electrification_december2020
https://www.nxtbook.com/nxtbooks/pes/electrification_september2020
https://www.nxtbook.com/nxtbooks/pes/electrification_june2020
https://www.nxtbook.com/nxtbooks/pes/electrification_march2020
https://www.nxtbook.com/nxtbooks/pes/electrification_december2019
https://www.nxtbook.com/nxtbooks/pes/electrification_september2019
https://www.nxtbook.com/nxtbooks/pes/electrification_june2019
https://www.nxtbook.com/nxtbooks/pes/electrification_march2019
https://www.nxtbook.com/nxtbooks/pes/electrification_december2018
https://www.nxtbook.com/nxtbooks/pes/electrification_september2018
https://www.nxtbook.com/nxtbooks/pes/electrification_june2018
https://www.nxtbook.com/nxtbooks/pes/electrification_december2017
https://www.nxtbook.com/nxtbooks/pes/electrification_september2017
https://www.nxtbook.com/nxtbooks/pes/electrification_march2018
https://www.nxtbook.com/nxtbooks/pes/electrification_june2017
https://www.nxtbook.com/nxtbooks/pes/electrification_march2017
https://www.nxtbook.com/nxtbooks/pes/electrification_june2016
https://www.nxtbook.com/nxtbooks/pes/electrification_december2016
https://www.nxtbook.com/nxtbooks/pes/electrification_september2016
https://www.nxtbook.com/nxtbooks/pes/electrification_december2015
https://www.nxtbook.com/nxtbooks/pes/electrification_march2016
https://www.nxtbook.com/nxtbooks/pes/electrification_march2015
https://www.nxtbook.com/nxtbooks/pes/electrification_june2015
https://www.nxtbook.com/nxtbooks/pes/electrification_september2015
https://www.nxtbook.com/nxtbooks/pes/electrification_march2014
https://www.nxtbook.com/nxtbooks/pes/electrification_june2014
https://www.nxtbook.com/nxtbooks/pes/electrification_september2014
https://www.nxtbook.com/nxtbooks/pes/electrification_december2014
https://www.nxtbook.com/nxtbooks/pes/electrification_december2013
https://www.nxtbook.com/nxtbooks/pes/electrification_september2013
https://www.nxtbookmedia.com