Multi-objective electricity cost and indirect CO₂ emissions minimization in commercial and industrial buildings utilizing stand-alone battery energy storage systems

A large portion of global carbon emissions are attributable to electricity generation. Several previous studies indicate that both electricity cost and carbon emission reductions are not attainable with stand-alone battery energy storage systems for residential buildings. However, in this study, lithium-ion battery energy storage dispatch (charging and discharging) is optimized as a multi-objective decarbonization and cost-saving strategy in ten commercial and industrial facilities. The analysis tests 100 energy storage capacities, 5 discharge times, and 2 control strategies with and without enrollment in event-based demand response. Unlike smaller energy consumers, the results show significant indirect CO₂ emissions reductions (>31%) paired with significant electricity cost reductions (>10%) are possible from stand-alone battery energy storage systems in a large commercial facility. Additionally, the results indicate that enrollment in the event-based demand response program and dispatch under the load shifting control strategy are always optimal to minimize both the discounted payback period and the indirect CO₂ emissions.