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Energy Storage Economic Optimization Scheduling Method for Multi-Scene Demand of Peak and Frequency Modulation

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  • Wen Wei

    (College of Economics and Management, Changsha University of Science and Technology, Changsha 410076, China
    College of Economics and Management, Hunan University of Science and Technology, Yueyang 414000, China)

  • Yali Wang

    (College of Economics and Management, Changsha University of Science and Technology, Changsha 410076, China)

  • Shuangfeng Dai

    (College of Economics and Management, Changsha University of Science and Technology, Changsha 410076, China)

  • Changqing Chen

    (College of Electrical and Information Engineering, Hunan University, Changsha 410076, China)

  • Lei Chen

    (College of Electrical and Information Engineering, Changsha University of Science and Technology, Changsha 410076, China)

Abstract

Energy storage (ES) only contributes to a single-scene (peak or frequency modulation (FM)) control of the power grid, resulting in low utilization rate and high economic cost. Herein, a coordinated control method of peak modulation and FM based on the state of ES under different time scales is proposed. Firstly, for monotone peak and FM control scenarios, the ES configuration and scheduling model is constructed with the goal of maximizing net profit. Secondly, to further improve the ES utilization rate and optimize the operating cost of ES, a cooperative control method of peak modulation and FM is proposed. This method can realize the switch between peak modulation and FM control of ES and improve the ES utilization rate and system economy. Finally, the simulation results show that, compared with that of mono-peak and single-FM control, the ES efficiency of the peak-FM multiscenario optimization scheduling method is improved by 16.25% and 37.29%, respectively. The annual net income is increased by €28,021.50, the investment recovery period is shortened by 0.27 years, and the ES configuration economy is effectively improved.

Suggested Citation

  • Wen Wei & Yali Wang & Shuangfeng Dai & Changqing Chen & Lei Chen, 2021. "Energy Storage Economic Optimization Scheduling Method for Multi-Scene Demand of Peak and Frequency Modulation," Energies, MDPI, vol. 14(24), pages 1-17, December.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:24:p:8605-:d:707150
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    References listed on IDEAS

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    1. Barbour, Edward & Wilson, I.A. Grant & Radcliffe, Jonathan & Ding, Yulong & Li, Yongliang, 2016. "A review of pumped hydro energy storage development in significant international electricity markets," Renewable and Sustainable Energy Reviews, Elsevier, vol. 61(C), pages 421-432.
    2. Changqing Chen & Xinran Li, 2021. "Configuration Method and Multi-Functional Strategy for Embedding Energy Storage into Wind Turbine," Energies, MDPI, vol. 14(17), pages 1-21, August.
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    1. Alexander Micallef & Cyril Spiteri Staines & Alan Cassar, 2022. "Utility-Scale Storage Integration in the Maltese Medium-Voltage Distribution Network," Energies, MDPI, vol. 15(8), pages 1-20, April.

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