Abstract: Energy storage systems play an important role in taking full advantage of renewable energy and improving the economic benefits of microgrids. Effective energy strategies need to be applied to realize the profit maximization. Considering the uncertainty and volatility of the electricity prices, the objective function of decision-making process is established, and the dynamic programming model to maximize the profits by energy storage systems is presented. The results show that the model can promote the development of energy storage technologies and provide greater profit margins. The impacts of price and energy storage strategy on the profits are analyzed by taking an energy storage system in microgrid as an example, and the feasibility and rationality of the proposed method are proven.

Key words: microgrid, energy storage system, profit maximization, dynamic programming