Improved Cycle Aging Cost Model for Battery Energy Storage Systems Considering More Accurate Battery Life Degradation

Battery energy storage systems (BESSs) have been widely used in power grids to improve their flexibility and reliability. However, the inevitable battery life degradation is the main cost in BESS operations. Thus, an accurate estimation of battery aging cost is strongly needed to cover the actual cost of BESSs. The existing models of battery life degradation either are not fully accurate to estima...