A method for monitoring a battery while the battery is connected to a load has been developed. The method includes measuring a first current level flowing through the battery to the load and a first voltage level of the battery at a first time, generating an estimated open cell voltage (OCV) of the battery at the first time based on the first current level, the first voltage level, and a predetermined model of the battery, identifying a first excitation level of the battery at the first time based on the first voltage level, the first current level and a cost optimization process, and identifying at least one of a state of charge (SoC) and state of health (SoH) of the battery using the estimated OCV only in response to the first excitation level being below a predetermined threshold.