Capacity Fade Modeling for Convex Optimization of Battery Charge/Discharge Schedules

The use of electrochemical batteries to provide multiple system services can greatly increase the profit they are able to generate, which can help to offset their initial investment cost. By using battery scheduling optimizations, the optimal charge/discharge profile can be found for providing multiple services. However, the more frequently a battery is used, the more its energy capacity will degrade. This paper introduces a method for including and monetizing capacity fade costs into convex battery scheduling optimization so that they may be taken into account.