Research Article
The Economic Value of Independent Energy Storage Power Stations Participating in the Electricity Market
@INPROCEEDINGS{10.4108/eai.8-12-2023.2344682, author={Hongwei Wang and Wen Zhang and Changcheng Song and Xiaohai Gao and Zhuoer Chen and Shaocheng Mei}, title={The Economic Value of Independent Energy Storage Power Stations Participating in the Electricity Market}, proceedings={Proceedings of the 5th Management Science Informatization and Economic Innovation Development Conference, MSIEID 2023, December 8--10, 2023, Guangzhou, China}, publisher={EAI}, proceedings_a={MSIEID}, year={2024}, month={4}, keywords={independent energy storage electricity market economic value}, doi={10.4108/eai.8-12-2023.2344682} }- Hongwei Wang
Wen Zhang
Changcheng Song
Xiaohai Gao
Zhuoer Chen
Shaocheng Mei
Year: 2024
The Economic Value of Independent Energy Storage Power Stations Participating in the Electricity Market
MSIEID
EAI
DOI: 10.4108/eai.8-12-2023.2344682
Abstract
Under the "dual carbon" goal, the proportion of new energy generation in new power systems is increasing, and the volatility and uncertainty of power output are also becoming more significant. Energy storage, as a flexible resource, can effectively compensate for the shortcomings of new energy generation. Therefore, the country has continuously introduced policies to encourage the development of independent energy storage and mandatory new energy allocation and storage. But as the scale of energy storage capacity continues to expand, the drawbacks of energy storage power stations are gradually exposed: high costs, difficult to recover, and other issues. This article establishes a full life cycle cost and benefit model for independent energy storage power stations based on relevant policies, current status of the power system, and trading rules of the power market. A typical electrochemical energy storage power station in Shandong is selected, and its economic value is analyzed by calculating its cost and benefit status after operation. Finally, it is suggested that the construction of energy storage facilities should actively switch to independent energy storage and that independent energy storage facilities should actively participate in auxiliary services.