Optimal Energy Storage Sizing of a Microgrid under Different Pricing Schemes

In order to increase the efficient allocation of renewable energy sources (RES), the microgrid concept has been arisen, as a controllable entity being able to operate both grid-connected and isolated in island mode. In distribution grids with a high RES potential like Cyprus island, the microgrids can play a significant role. This paper deals with the future transformation of the campus of the University of Cyprus (UCY) into a fully operational microgrid with a large photovoltaic (PV) installation and energy storage systems. The benefits of the Distributed System Operator (DSO) can be multidirectional, especially considering the non-interconnected nature of the Cyprus distribution grid. A quantitative analysis of the benefits of the DSO is presented in order to make this microgrid viable under different load and pricing scenarios, while a comprehensive analysis for selecting the optimal energy storage system is demonstrated. All the results are based on real measurements from the field depicting a very close to reality model.