Value Evaluation of New Dispatchable Resources in Power Systems

New dispatchable resources such as energy storage (ES) and demand response (DR) are becoming increasingly abundant. The understanding of their values has become an important issue to be studied. This paper refers to the conversion coefficients of hydro-coal and wind-coal in existing studies, proposes a value conversion coefficient method for new dispatchable resources and thermal power, and establishes an analysis method to realize a reasonable evaluation of the relative value of dispatchable resources in the new power system. Considering the operation characteristics of the new dispatchable resources, a multi-objective value dispatching model is built, and the key equation constraints representing the operation characteristics of the new dispatchable resources are used to solve the model based on the Karush-Kuhn-Tucker (KKT) conditions, and the expression of the value conversion coefficient of the new dispatchable resources is derived. Through the case study, the proposed method can be analyzed for the conversion value between low-carbon dispatchable resources and traditional thermal power. The impact of the value conversion coefficient when inequality constraint reaches the limit under high renewable energy penetration is further discussed.