Value Evaluation Model of Multi-Temporal Energy Storage for Flexibility Provision in Microgrids

Abstract

With the advancement of distributed power generation technology and the deepening of the low-carbon transformation of energy structure, a high proportion of renewable energy has become an inevitable trend in future energy systems, especially for microgrids. However, the volatility and uncertainty associated with renewable energy pose significant challenges to the secure and stable operation of power systems, necessitating the exploration of the flexible regulation of resources. Energy storage, as a crucial flexible resource characterized by technological diversity and a variety of regulation capabilities, has been extensively studied and applied. Nonetheless, the high investment costs and limited returns of energy storage technology, coupled with the ambiguous utility in different scenarios under the current electricity market’s framework, complicate its broader application. To thoroughly analyze the utility of energy storage in facilitating flexible adjustments in microgrids, this study developed a composite weight-TODIM (an acronym in Portuguese for interactive and multi-criteria decision making) model for assessing the utility of energy storage that incorporates heterogeneity in the risk preferences. This model enabled a comparative analysis of the utility of energy storage technology across multiple scenarios, taking the risk preferences of decision-makers into account, thereby providing strategic insights for the application of multi-temporal energy storage in microgrids. The feasibility and effectiveness of the model were validated through a case study analysis.