How individuals can participate in energy storage

Who has access to energy storage?

For the individual energy storage setting, each residential consumer has the sole access to their own energy storage.

Why are energy storage systems limiting the benefits of energy storage?

The burden of the investment cost placed on the individual residential consumers can cause consumers to have energy storage systems that cannot meet their energy needs, thus limiting the expected benefits of the energy storage.

Should energy storage be shared?

Considering these aspects, there has been an increasing interest in sharing energy storage among individual consumers, specifically in a residential community. With shared energy storage, multiple consumers will have access to the energy storage by charging and discharging the energy storage depending on their own needs.

What is community energy storage?

Community energy storage refers to an energy storage system located within a community with defined boundaries.

Do shared energy storage operations save energy?

This study is mainly motivated to show the benefits of using shared energy storage operations in terms of electricity cost saving and energy storage use compared to individual energy storage operations in a residential community setting.

How can energy storage be efficiently used?

Moreover, energy storage can be efficiently used by sharing among multiple energy consumers with different demand patterns. The larger capacity of the shared energy storage allows for more charging and discharging of energy. The nature of the shared energy storage allows different consumers to charge and discharge at the same time.