Economic evaluation of energy storage system based on FAHP and TOPSIS

Since the introduction of the “dual-carbon” goal, the construction of new power systems has been accelerating, and the development and utilization of new energy sources has been recognized as an important factor in China's energy strategy. Renewable energy has characteristics such as intermittency and volatility, and these uncertainties bring great potential risks to the safe and stable operation of power grids. In order to cope with the fluctuation problem brought about by a large number of renewable energy sources connected to the grid, there is an urgent need for a kind of flexible resources with fast response capability to join in to ensure the balanced and stable operation of the grid, and energy storage is the best choice after comprehensive consideration. This study establishes a comprehensive evaluation index system for the benefits of energy storage systems; and uses the fuzzy analytic hierarchy process (FAHP) and the technique of ordering the similarity of ideal solutions (TOPSIS) to assess the economic benefits of energy storage. The case study verifies the feasibility and effectiveness of the proposed evaluation index system and assessment method.