Energy storage systems in energy and ancillary markets: A backwards induction approach

Cho, Joohyun; Kleit, Andrew N.

doi:10.1016/j.apenergy.2015.01.114

Cited by 65 publications

(44 citation statements)

References 16 publications

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“…However, the use of too many solar panels can increase the cost of capital investment and make the power system is unstable due to the uncertainty associated with solar energy [12,13]. In addition, a wide range of studies [14][15][16][17][18][19] found that the use of energy storage systems (ESS) is one of the most effective solutions for quality, reliability and power of SPP and contributes to greater development of efficient energy distribution. Some studies [20,21] showed that the optimal control of ESS in SPP with multiple bus structures that are built using Flexible Alternative Current Transmission Systems (FACTS) and are the Western System Coordinating Council (WSCC) with the uneven impedance distribution will reduce the peak load, the cost of power supply renovation and compensate the negative impact on the environment.…”

Section: Literature Reviewmentioning

confidence: 99%

Conceptualization of research of power hybrid electric power complexes

Budashko

Glazeva

Samonov

2016

TAPR

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Section: Literature Reviewmentioning

confidence: 99%

Conceptualization of research of power hybrid electric power complexes

Budashko

Glazeva

Samonov

2016

TAPR

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“…The frequency modulation auxiliary service means that when the frequency of the power grid fluctuates and deviates from the equilibrium point (50 Hz in China), through the rapid charging and discharging of the BESS, the output of other generators in the power system is compensated to make the frequency of the power grid reach the balance requirement. To facilitate the analysis, this paper takes the frequency modulation auxiliary service as an example to analyse the potential and economic benefits of the auxiliary power station [47].…”

Section: Analysis Of the Ancillary Service Of The Bessmentioning

confidence: 99%

A Three-Part Electricity Price Mechanism for Photovoltaic-Battery Energy Storage Power Plants Considering the Power Quality and Ancillary Service

et al. 2017

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Abstract:To solve the problem of solar abandoning, which is accompanied by the rapid development of photovoltaic (PV) power generation, a demonstration of a photovoltaic-battery energy storage system (PV-BESS) power plant has been constructed in Qinghai province in China. However, it is difficult for the PV-BESS power plant to survive and develop with the current electricity price mechanism and subsidy policy. In this paper, a three-part electricity price mechanism is proposed based on a deep analysis of the construction and operation costs and economic income. The on-grid electricity price is divided into three parts: the capacity price, graded electricity price, and ancillary service price. First, to ensure that the investment of the PV-BESS power plant would achieve the industry benchmark income, the capacity price and benchmark electricity price are calculated using the discounted cash flow method. Then, the graded electricity price is calculated according to the grade of the quality of grid-connected power. Finally, the ancillary service price is calculated based on the graded electricity price and ancillary service compensation. The case studies verify the validity of the three-part electricity price mechanism. The verification shows that the three-part electricity price mechanism can help PV-BESS power plants to obtain good economic returns, which can promote the development of PV-BESS power plants.

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“…compliance with the permitted limits of grid parameters (frequency, grid voltage, line current) [21]. Scenarios beneficial to the market pursue the goal of putting the storage system to use with value added, specifically factoring in the energy market and its constraints [22]. Some of the cited use cases, e.g.…”

Section: Storage System Use Casesmentioning

confidence: 99%

Energy storage systems: power grid and energy market use cases

Komarnicki¹

2016

Archives of Electrical Engineering

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Current power grid and market development, characterized by large growth of distributed energy sources in recent years, especially in Europa, are according energy storage systems an increasingly larger field of implementation. Existing storage technologies, e.g. pumped-storage power plants, have to be upgraded and extended by new but not yet commercially viable technologies (e.g. batteries or adiabatic compressed air energy storage) that meet expected demands. Optimal sizing of storage systems and technically and economically optimal operating strategies are the major challenges to the integration of such systems in the future smart grid. This paper surveys firstly the literature on the latest niche applications. Then, potential new use case and operating scenarios for energy storage systems in smart grids, which have been field tested, are presented and discussed and subsequently assessed technically and economically.

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Energy storage systems in energy and ancillary markets: A backwards induction approach

Cited by 65 publications

References 16 publications

Conceptualization of research of power hybrid electric power complexes

Conceptualization of research of power hybrid electric power complexes

A Three-Part Electricity Price Mechanism for Photovoltaic-Battery Energy Storage Power Plants Considering the Power Quality and Ancillary Service

Energy storage systems: power grid and energy market use cases

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