OKSPEES

Jul 1, 2021

Optimal Utilization of Energy Storage in the Power System

Adequate use of energy storage in the power system (PS) can enable the integration of large amounts of electricity produced from intermittent renewable sources, reduce system operating costs, and ultimately influence electricity prices. In addition to storing energy for later use, there are many other services that make energy storage valuable in market-oriented power systems, such as frequency regulation, voltage regulation, provision of spinning and non-spinning reserves, peak load leveling, black start capability, etc. Each of these applications has specific requirements regarding response time, required energy capacity, and so on, and since different energy storage technologies differ significantly in their characteristics, not all are suitable for every application. A significant increase in energy storage capacity is expected.

The optimal requirements for energy storage depend on the characteristics of the power system (mainly on the properties of individual types of power plants and the share and characteristics of renewable sources), on electricity and ancillary service price dynamics in energy markets, on the capabilities of the storage systems, etc.

The goal of our research in the coming period is to improve methods for calculating the optimal size of storage in a power system with given characteristics. Another goal is to determine the impact of the generation mix structure on the optimal storage size, as well as on the optimal characteristics of the energy storage system.

Based on the planned activities, the following results are expected:

· By applying the previously developed methods for calculating optimal operation and optimal energy storage size—adapted to independent power producers (GENCOs) that include storage and intermittent renewable energy sources in their portfolios—to distinguish the impact of increased wind power generation capacity and increased photovoltaic generation capacity on GENCO revenues;

· By applying the previously developed methods for calculating optimal operation and optimal energy storage size, to optimize the operating regimes of energy storage systems owned by GENCOs, taking into account penalties imposed on producers for unserved energy;

· Application of the energy storage model for optimization analyses of the operation of the entire power system;

· Development of a method for calculating the total optimal size of energy storage in a liberalized power system;

· Determination of the impact of higher penetration of various intermittent renewable energy sources on the optimal storage size under market conditions.

Project personnel