Evaluation Methodology for Power System Dispatch Benefits in Electricity Market Environments Considering Battery Energy Storage Aging Costs and Dispatch Potential
Battery energy storage (BES) can arbitrage in the energy market and generate revenues by providing ancillary services in the frequency regulation market, with operation behaviors guided by price signals. The peak-valley price difference, frequency regulation market prices, and the aging costs of BES determine its net revenues. A quantitative analysis of the participation potential of BES in power systems is conducted. First, the operation behaviors of BES participating in both the energy market and the frequency regulation market are explored. Then, the operation revenues and aging costs are analyzed for scenarios where the BES aging model is embedded and where fixed parameters are used. Finally, a sensitivity analysis of the frequency regulation market prices on the operation behaviors of BES is performed.
Authors
- Fei Guo (ORCID: https://orcid.org/0000-0002-7230-018X)
- Tao Chen (ORCID: https://orcid.org/0000-0003-2616-6247)
- Rui Ou
- Xinyu Liu (ORCID: https://orcid.org/0000-0002-0564-7167)
- Wei Liu (ORCID: https://orcid.org/0000-0002-1890-7191)
Institutions
- Chongqing University (CN)
- State Grid Corporation of China (China) (CN)
- Shanghai Electric (China) (CN)
- Tsinghua University (CN)
Publication Details
- Published
- 2025-04-15
- DOI
- https://doi.org/10.1109/acpee64358.2025.11040729
- Primary Topic
- Electric Vehicles and Infrastructure
- Type
- article
- Field-Weighted Citation Impact
- 0.00