BUILDING MANAGEMENT SYSTEM WITH ELECTRICAL ENERGY STORAGE OPTIMIZATION BASED ON STATISTICAL ESTIMATES OF IBDR EVENT PROBABILITIES

A central plant that generates and provides resources to a building. The central plant includes an electrical energy storage subplant configured to store electrical energy purchased from a utility and to discharge the stored electrical energy. The central plant includes a plurality of generator subplants that consume one or more input resources. The central plant includes a controller configured to determine, for each time step within a time horizon, an optimal allocation of the input resources and the output resources for each of the subplants in order to optimize a total monetary value of operating the central plant over the time horizon. The total monetary value includes revenue from participating in incentive-based demand response programs as well as costs associated with resource consumption, equipment degradation, and losses in battery capacity.