Abstract
Due to the rapid decline in energy storage prices, utilizing these systems to maintain grid stability is becoming viable for grid operators. However, many services require storage facilities to remain idle for extended periods. To maximize the potential of energy storage, value stacking emerges as a promising solution. This study explores the feasibility and profitability of using Battery Energy Storage Systems (BESS) for value stacking in the Norwegian distribution grid. It evaluates various scenarios, such as service scheduling, load mitigation, and the provision of ancillary services, aiming to integrate BESS effectively into the energy landscape. This work looks into voltage regulation and energy arbitrage. Algorithms were developed to simulate the stacking of selected services, exploring three methods for energy arbitrage: a rule-based approach, a linear optimization model, and a model predictive control method. These methods were implemented in a distribution grid model to assess their performance individually and in combination. Real-life data for load, PV, and spot prices were used to evaluate the proposed methods. All methods achieved profit, with the optimization method using forecasted values performing best when combining services. The results demonstrated that service stacking could enhance profitability, especially with improved market regulations for voltage provision, leading to more accurate economic assessments.