Abstract
High cost and low benefit are the most important reasons for hindering large-scale application of energy storage system. User-side energy storage can provide frequency regulation services to improve economy. In this paper, based on the battery cycle life model, comprehensively considering various operating modes, a full-life-cycle cost benefit model of energy storage is proposed to maximize the profit of time-shift energy arbitrage service and frequency regulation service. Economic evaluation method for user-side energy storage providing frequency regulation service is proposed. Based on this model and the data of US electricity market, the economic feasibility of the user-side battery energy storage providing frequency regulation service are simulated. The results show that under the time-shift energy arbitrage service pattern, the economic optimal configuration parameter of the user-side energy storage is in the range of 0.389~3.074 C. The optimal operating power of the user-side energy storage for frequency regulation service is rated power; under the optimized operation strategy, the economy of frequency regulation service is better than the time-shift energy arbitrage service.
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