Optimal Hybrid Energy Storage System Scheduling Strategy in Energy Market Considering Battery Cycle Life

In the context of large-scale renewable energy integration, actively guiding hybrid energy storage systems (HESS) to participate in electric power energy trading can effectively address power balance issues in modern power systems. However, high investment costs and long payback periods limit the willingness of HESS owners to participate in the energy market. To enhance the techno-economic performance of HESS in the energy market, an optimal HESS scheduling strategy in the energy market considering battery cycle life is proposed in this paper. Firstly, an equivalent full-cycle life model based on depth of discharge (DoD) is developed. Secondly, the proposed battery energy storage (BES) cycle life model is integrated into the optimization scheduling model, presenting an optimal strategy for HESS participation in the energy market. Finally, scenario-based comparative analyses validate the effectiveness of the proposed strategy in increasing the revenue of lithium-ion and vanadium flow HESS in the energy market.