An Analytical Approach for Optimal Placement and Sizing of Energy Storage

Finding of optimal location and capacity for storage units have been highly noticed in modern power systems. In this paper, the optimal location and capacity of a storage unit is determined by an analytical technique in order to acquire the maximum profit. Target function is a single- variable function in which by its derivation the conditions required for maximization of profit are identified. In target function, all costs and earnings have been introduced as functions of nominal power of storage unit and thereby the capacity of storage unit and location for its installation is derived.This technique has been simulated on a 12-bus distribution network by means of MATLAB software. The authenticity of the derived results from the purposed analytical methods has been verified by review all possible modes for installation and determination of capacity for storage unit in this grid.