Optimizing Battery Capacity Based on Smart Meter Data in Battery Energy Storage System

Abstract

To optimize the benefits of deploying the battery energy storage system (BESS), this paper considers the problem of optimizing the battery capacity based on smart meter data. An energy management system is implemented in the office building of an automation technology company. The smart meters monitor the energy consumption of the building, and the data are transmitted to the cloud server by wireless communication. Based on the smart meter data, we formulate an optimization problem to determine the battery capacity. The optimization problem considers the time-of-use (TOU) price, the investment cost and the maintenance cost. The solution for the optimization problem is provided based on particle swarm optimization (PSO). A case study is provided to prove the effectiveness of the optimization.