Dynamic economic evaluation of hundred megawatt-scale electrochemical energy storage for auxiliary peak shaving

Abstract With the rapid development of wind power, the pressure on peak regulation of the power grid is increased. Electrochemical energy storage is used on a large scale because of its high efficiency and good peak shaving and valley filling ability. The economic benefit evaluation of participating in power system auxiliary services has become the focus of attention since the development of grid-connected hundred megawatt-scale electrochemical energy storage systems (ESS). Based on the relationship between power and capacity in the process of peak shaving and valley filling, a dynamic economic benefit evaluation model of peak shaving assisted by hundred megawatt-scale electrochemical ESS considering the equivalent life of the battery is proposed. The model considers the investment cost of energy storage, power efficiency, and operation and maintenance costs, and analyzes the dynamic economic benefits of different energy storage technologies participating in the whole life cycle of the power grid. Then, according to the current ESS market environment, the auxiliary service compensation price, peak-valley price difference and energy storage cost unit price required to make the energy storage technology achieve the balance of payments are calculated, and the economic balance points of different energy storage types are clarified. Finally, based on the measured data of different provincial power grids, the economies of six energy storage types applied to three provincial power grids are compared and analyzed, and the rationality and effectiveness of the relevant models proposed are verified. The work has theoretical guiding significance for the economic benefit evaluation of hundred megawatt-scale electrochemical energy storage.