Sharif Digital Repository

Nowadays, the high penetration of renewable energy resources, with variable and unpredictable nature, poses major challenges to operation and planning studies of power systems. Employing energy storage systems (ESSs) has been introduced as an effective solution to alleviate these challenges. Several studies have been presented in the literature to provide a framework for expansion planning studies of ESSs. However, they usually have two main drawbacks: i) ignoring the positive effect of independent-locally operated ESSs on the bulk power system preferences, ii) inability to model the charge/discharge schedule of independent-locally operated ESSs based on their investors' acceptable risk...