Sizing of battery energy storage for end-user applications under time of use pricing

This chapter focuses on the optimal sizing of BESSs in end-user applications in the frame of time-varying energy pricing structures by adopting a probabilistic approach. More in detail, the proposed procedure focuses on one of the most used time-varying tariff structures (i.e. the ToU tariff) but it can be easily extended to other structures. In this chapter, starting from the procedure proposed, the probabilistic optimal sizing is performed applying the point estimate method (PEM), an algorithm that guarantees accuracy of the results with computational effort significantly lower than that implied by the Monte Carlo procedure.