Peak Shaving and Frequency Regulation Coordinated Output Optimization Based on Improving Economy of Energy Storage

Abstract

In this paper, a peak shaving and frequency regulation coordinated output strategy based on the existing energy storage is proposed to improve the economic problem of energy storage development and increase the economic benefits of energy storage in industrial parks. In the proposed strategy, the profit and cost models of peak shaving and frequency regulation are first established. Second, the benefits brought by the output of energy storage, degradation cost and operation and maintenance costs are considered to establish an economic optimization model, which is used to realize the division of peak shaving and frequency regulation capacity of energy storage based on peak shaving and frequency regulation output optimization. Finally, the intra-day model predictive control method is employed for rolling optimization. An intra-day peak shaving and frequency regulation coordinated output optimization strategy of energy storage is proposed. Through the example simulation, the experiment results show that the electricity cost of the whole day is reduced by 10.96% by using the coordinated output strategy of peak shaving and frequency regulation. The obtained further comparative analysis results and the life cycle economic analysis show that the profit brought by the proposed coordinated output optimization strategy is greater than that for separate peak shaving or frequency modulation of energy storage under the same capacity.

Advanced Machine Learning Applications in Big Data Analytics

“…Liu et al [30] proposed a coordinated output strategy for peak shaving and frequency regulation using existing energy storage to improve its economic development and benefits in industrial parks. The strategy included profit and cost models, an economic optimization model for dividing peak shaving and frequency regulation capacity, and an intra-day model predictive control method for rolling optimization.…”

Peak Shaving Methods of Distributed Generation Clusters Using Dynamic Evaluation and Self-Renewal Mechanism

“…However, for DGs, each cluster may contain more than one type. The authors in [11] consider economic benefits to establish the evaluation system for different types of DGs. The authors in [26] apply the MCDM technique employing Fuzzy TOPSIS to ranking DG systems and the criteria includes cost, minimum starting time, noise, emission level, and continuity.…”

“…In [10], a Bayesian analysis model is applied to realize a simple and effective peak shaving method considering equipment constraints. The authors in [11] propose an intra-day coordinated peak shaving and frequency regulation optimization strategy of energy storage to improve the economic benefits. In terms of PV or wind power peak shaving.…”

Optimization Strategy of Hybrid Configuration for Volatility Energy Storage System in ADN

“…Due to the access of WG and load, there is frequency fluctuation in the distribution network system. This study adds 120 MW of WG in the operation layer to adjust the energy storage system output, using the energy storage output to suppress the fluctuation [21,22]; 5% of the WG output is used for system frequency regulation. When the fluctuation frequency range exceeds 0.2 Hz, the whole capacity of WG is added to the distribution network; otherwise, the energy storage capacity calculated under the optimal strategy is used.…”