Open Access

ARTICLE

Analysis of System Value Evolution Trends of Energy Storage in Decarbonization Process

by Mo Zhou¹, Jingming Zhao¹, Zili Chen^2,*, Qiushi Fang¹, Hua Li¹, Zhaoyuan Wu²

1 State Grid Liaoning Electric Power Supply Co., Ltd., State Grid Liaoning Electric Power Company Limited Economic Research Instituete, Shenyang, 110015, China
2 School of Electrical and Electronic Engineering, North China Electric Power University, Beijing, 102206, China

* Corresponding Author: Zili Chen. Email:

Energy Engineering 2024, 121(10), 3037-3053. https://doi.org/10.32604/ee.2024.050842

Received 20 February 2024; Accepted 24 June 2024; Issue published 11 September 2024

Abstract

With the continuous expansion of the scale of renewable energy installation, the demand for energy storage has increased significantly. However, there are significant differences in the value of energy storage in different scenarios, and the phenomenon of diminishing marginal benefits of energy storage is becoming more apparent. Therefore, the multi-dimensional value evolution trend of energy storage has become a key issue. This study selects indicators from three dimensions of energy storage: low-carbon emission reduction, smoothing wind and solar power fluctuations, and saving generation costs, quantifying the economic, environmental, and technical values of energy storage. This forms a quantitative evaluation system for energy storage value. By comparing the calculated system values under different energy storage capacities, the marginal value evolution trend of energy storage is obtained. Meanwhile, considering factors such as the utilization rate of renewable energy, the change in energy storage value under different scenarios is analyzed. The results show that the value of long-duration energy storage is significantly affected by the energy storage capacity. Specifically, when the charge-discharge efficiency of long-duration energy storage reaches 0.6 or above, the system value increases significantly. Additionally, appropriately reducing the cost of energy storage capacity also helps to improve its system value.

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Keywords

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