Improving the Scheduling of Energy Storage System : Case of South Korean Energy Market

Energy storage system (ESS) plays a critical role in balancing the temporal imbalance between power generation and demand in the energy market. However, large-scale ESS deployment has been limited due to high upfront costs. To encourage grid-scale battery deployment, various forms of incentive programs, such as those that incorporate the renewable energy certificate (REC), have been introduced worldwide. Currently, to take advantage of substantial level of incentives, simple heuristic approaches are widely used that cannot adapt to possible future changes in the incentive structure