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Analysis of System Value Evolution Trends of Energy Storage in Decarbonization Process

Mo Zhou1, Jingming Zhao1, Zili Chen2,*, Qiushi Fang1, Hua Li1, Zhaoyuan Wu2

1 State Grid Liaoning Electric Power Supply Co., Ltd., State Grid Liaoning Electric Power Company Limited Economic Research Instituete, Shenyang, 110015, China
2 School of Electrical and Electronic Engineering, North China Electric Power University, Beijing, 102206, China

* Corresponding Author: Zili Chen. Email: email

Energy Engineering 2024, 121(10), 3037-3053. https://doi.org/10.32604/ee.2024.050842

Abstract

With the continuous expansion of the scale of renewable energy installation, the demand for energy storage has increased significantly. However, there are significant differences in the value of energy storage in different scenarios, and the phenomenon of diminishing marginal benefits of energy storage is becoming more apparent. Therefore, the multi-dimensional value evolution trend of energy storage has become a key issue. This study selects indicators from three dimensions of energy storage: low-carbon emission reduction, smoothing wind and solar power fluctuations, and saving generation costs, quantifying the economic, environmental, and technical values of energy storage. This forms a quantitative evaluation system for energy storage value. By comparing the calculated system values under different energy storage capacities, the marginal value evolution trend of energy storage is obtained. Meanwhile, considering factors such as the utilization rate of renewable energy, the change in energy storage value under different scenarios is analyzed. The results show that the value of long-duration energy storage is significantly affected by the energy storage capacity. Specifically, when the charge-discharge efficiency of long-duration energy storage reaches 0.6 or above, the system value increases significantly. Additionally, appropriately reducing the cost of energy storage capacity also helps to improve its system value.

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APA Style
Zhou, M., Zhao, J., Chen, Z., Fang, Q., Li, H. et al. (2024). Analysis of system value evolution trends of energy storage in decarbonization process. Energy Engineering, 121(10), 3037-3053. https://doi.org/10.32604/ee.2024.050842
Vancouver Style
Zhou M, Zhao J, Chen Z, Fang Q, Li H, Wu Z. Analysis of system value evolution trends of energy storage in decarbonization process. Energ Eng. 2024;121(10):3037-3053 https://doi.org/10.32604/ee.2024.050842
IEEE Style
M. Zhou, J. Zhao, Z. Chen, Q. Fang, H. Li, and Z. Wu "Analysis of System Value Evolution Trends of Energy Storage in Decarbonization Process," Energ. Eng., vol. 121, no. 10, pp. 3037-3053. 2024. https://doi.org/10.32604/ee.2024.050842



cc Copyright © 2024 The Author(s). Published by Tech Science Press.
This work is licensed under a Creative Commons Attribution 4.0 International License , which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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