A Method of Calculating the Cost of Energy Storage Providing Primary Frequency Regulation for Power Systems with Renewable Integration

Energy storage participation in frequency regulation is emerging as a crucial aspect of building a new-type power system. However, there is a lack of a comprehensive evaluation mechanism for the cost of energy storage in frequency regulation, which significantly hinders its further promotion. To address this issue, this paper starts from the framework of the power system dispatching model. Firstly, models for energy storage participation in frequency regulation and system frequency regulation are established. These models are then integrated into system dispatch to construct a power system dispatching model that includes energy storage providing frequency regulation services. By solving the power system dispatching model, dual multipliers corresponding to the frequency regulation constraints are obtained. Leveraging marginal cost pricing theory, the cost of energy storage providing frequency regulation services is derived from these dual multipliers. Finally, simulations are conducted using an improved IEEE 14-bus system.