Research on Comprehensive Value of Electrical Energy Storage in CCHP Microgrid with Renewable Energy Based on Robust Optimization

Huiru Zhao, Hao Lu, Xuejie Wang, Bingkang Li, Yuwei Wang, Pei Liu and Zhao Ma
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Huiru Zhao: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Hao Lu: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Xuejie Wang: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Bingkang Li: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Yuwei Wang: Department of Economic Management, North China Electric Power University, Baoding 071003, China
Pei Liu: School of Insurance and Economics, University of International Business and Economics, Beijing 100029, China
Zhao Ma: School of Economics and Management, North China Electric Power University, Beijing 102206, China

Energies, 2020, vol. 13, issue 24, 1-22

Abstract: The combined cooling, heating, and power (CCHP) microgrid system is good for energy gradient utility. At the same time, it can promote the renewable energy (RE) consumption and abate environmental pollution. In a CCHP microgrid system, the electrical energy storage (EES), which can storage and release electrical energy, plays an indispensable role. A robust optimization model of the CCHP microgrid participating in power market transaction is constructed to calculate the CCHP microgrid operation cost in 4 cases. The results show that the EES can significantly reduce the cost of the CCHP microgrid by 13.21%, compared with 8.36% in Group 1 without renewable energy. The EES can reduce the reserved capacity of micro gas turbine units to deal with the precariousness of RE generation and then reduce the CCHP microgrid operation cost by reducing the purchase of energy from the power grid and arbitrage. Finally, the calculation method of comprehensive value of the EES is constructed. The comprehensive value of the EES is higher in Group 2 with renewable energy compared with Group 1 without renewable energy. Through net present value (NPV) calculation and sensitivity analysis, it is found that the RE penetration level and EES cost have the greatest impact on the economic performance of EES. This shows that with the continuous rising of the RE penetration level and the gradual decrease of EES cost, great potential still waits to be tapped in the comprehensive value of EES in the future.

Keywords: CCHP microgrid; renewable energy; robust optimization; electrical energy storage; comprehensive value (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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