Author(s)

Zhou Jie, Zhang Xinzhen, Liu Li, Jiang Ke, Li Haibin, Su Lin

Corresponding Author

Zhou Jie

ABSTRACT

Poor economy is one of the key problems that restrict the development of user-side energy storage. So the user-side energy storage needs to provide multiple services to improve economy. In this paper, comprehensively considering time-shift energy arbitrage service and frequency regulation service, a whole-life-cycle income model of energy storage based on the relationship between charge/discharge rate and battery life is proposed to maximize the income of energy storage. The economic optimal operational strategy is also proposed. Based on this model and the data of PJM electricity market, the economy of various operational strategies is simulated. The results show that the optimal control strategy for energy storage to provide time-shift energy arbitrage service is to charge/discharge at 1.0 C, and the optimal control strategy for providing frequency regulation service is to charge/discharge at 5.38 C. Taking the 8000 kW/1000 kWh energy storage as an example, the benefit of energy storage providing time-shift energy arbitrage service changed from negative to positive after the optimized regulation strategy adopted, and the cost-benefit ratio of frequency regulation increased by 79.2 %.

KEYWORDS

Energy storage, operational strategy, frequency regulation, time-shift energy arbitrage, whole-life-cycle income model