Abstract
With the continuous reform of Chinese electric power system, the proportion of electricity traded in the market is expanding, and the participation mechanism of renewable energy in power market is urgently needed to be studied and formulated. However, renewable energy productions cannot be predicted accurately due to its randomness and volatility, which decrease its competitiveness in electricity market. With the rapid development of energy storage technology, energy storage technology can be combined with renewable energy to participate in the electricity market and play a role in alleviating power deviations. The energy storage system is introduced to ensure the power balance when the renewable energy generation does not meet the needs of users. When renewable energy generation exceeds user demand, the excess energy can be stored to reduce energy wastage. Taking photovoltaic power generation as an example, this paper establishes an economic model to maximize the revenue of power stations. According to the market data of photovoltaic power generations of large power generation groups, this paper studies the significance of photovoltaic power storage for joint participation in power market, which can reduce abandoning PV and increase the revenue of power station.
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