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

Wen Wei, Yali Wang, Shuangfeng Dai, Changqing Chen and Lei Chen
Additional contact information
Wen Wei: College of Economics and Management, Changsha University of Science and Technology, Changsha 410076, 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

Energies, 2021, vol. 14, issue 24, 1-17

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.

Keywords: ES; peak modulation; FM; coordinated control; economic optimization model (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: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/1996-1073/14/24/8605/pdf (application/pdf)
https://www.mdpi.com/1996-1073/14/24/8605/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:14:y:2021:i:24:p:8605-:d:707150

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().