A method to calculate the opportunity value of battery capacity degradation using dynamic programming
This technology proposes a dynamic valuation framework for lithium-ion batteries that models the opportunity value of battery capacity degradation to incorporate the cost into economic planning.
Unmet Need: Accurate valuation of battery degradation for economical and sustainable long-term battery deployments
Operational parameters related to battery degradation, such as charging frequency, cycle degradation, and project lifetime, are essential for optimizing battery deployments in grid applications. However, current optimization algorithms consider degradation as a static variable. This can lead to the over-simplification of batteries’ value dependency on degradation-related parameters, and inefficient use of resources.
The Technology: A mathematical framework to determine dynamic valuation of battery lifetime
This technology is a dynamic battery valuation framework that models the impact of battery degradation while accounting for different categories of degradation, application value, and market environment. The proposed valuation framework uses real market data and compares the performance of new and second-life batteries.
Applications:
- Valuation of battery degradation, capacity, and lifetime
- Second-life battery valuation
- Simulation and optimization of battery utilization and deployment over a multi-year projects
- Research model for power storage systems
- Investment projection tool for battery related market
Advantages:
- Cost-effective
- More accurate predictions for battery usage and cost
- Unbiased analysis framework
Lead Inventor:
Related Publications:
Tech Ventures Reference:
IR CU23105
Licensing Contact: Dovina Qu