Rental strategy for energy storage to participate in frequency regulation market

Abstract Energy storage (ES) can help the renewable energy sources to smooth their output and enhance their profits, which promotes the installation of ES. However, it is inappropriate for small‐scale renewable energy communities (REC) to invest costly ES, which requests a new business model to expl...
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Autor*in:	Xiaorong Wang [verfasserIn] Yundong Yu [verfasserIn] Xiaohe Yan [verfasserIn] Nian Liu [verfasserIn]

Format:	E-Artikel
Sprache:	Englisch

Erschienen:	2023

Übergeordnetes Werk:	In: IET Smart Grid - Wiley, 2019, 6(2023), 1, Seite 38-47
Übergeordnetes Werk:	volume:6 ; year:2023 ; number:1 ; pages:38-47

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DOI / URN:	10.1049/stg2.12079

Katalog-ID:	DOAJ080563732

Internformat


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520			\|a Abstract Energy storage (ES) can help the renewable energy sources to smooth their output and enhance their profits, which promotes the installation of ES. However, it is inappropriate for small‐scale renewable energy communities (REC) to invest costly ES, which requests a new business model to explore the possibility to rent ES for more returns. This paper proposes an ES rental strategy for REC to participate in the frequency regulation market (FRM). Firstly, the FRM is modelled considering the regulation capacity and mileage price. Then, the rental model for REC is built considering capacity rental costs and ES using costs. The correlation of rental capacity with reserved capacity and mileage is built through rental costs and revenue in FRM. The operation method for ES is carried out to maximise the total profits of REC. Finally, the whole model is demonstrated with a REC which has 35 MW photovoltaic and 113 MW wind turbine. The results show that under different rental and market prices, the REC can effectively choose the optimal rental strategy and its profits can mostly be raised by 19.63%.
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allfields	10.1049/stg2.12079 doi (DE-627)DOAJ080563732 (DE-599)DOAJf4bb733f9a0141ecb31e7e818049e987 DE-627 ger DE-627 rakwb eng TK1-9971 Xiaorong Wang verfasserin aut Rental strategy for energy storage to participate in frequency regulation market 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Abstract Energy storage (ES) can help the renewable energy sources to smooth their output and enhance their profits, which promotes the installation of ES. However, it is inappropriate for small‐scale renewable energy communities (REC) to invest costly ES, which requests a new business model to explore the possibility to rent ES for more returns. This paper proposes an ES rental strategy for REC to participate in the frequency regulation market (FRM). Firstly, the FRM is modelled considering the regulation capacity and mileage price. Then, the rental model for REC is built considering capacity rental costs and ES using costs. The correlation of rental capacity with reserved capacity and mileage is built through rental costs and revenue in FRM. The operation method for ES is carried out to maximise the total profits of REC. Finally, the whole model is demonstrated with a REC which has 35 MW photovoltaic and 113 MW wind turbine. The results show that under different rental and market prices, the REC can effectively choose the optimal rental strategy and its profits can mostly be raised by 19.63%. Electrical engineering. Electronics. Nuclear engineering Yundong Yu verfasserin aut Xiaohe Yan verfasserin aut Nian Liu verfasserin aut In IET Smart Grid Wiley, 2019 6(2023), 1, Seite 38-47 (DE-627)1023132958 (DE-600)2930480-5 25152947 nnns volume:6 year:2023 number:1 pages:38-47 https://doi.org/10.1049/stg2.12079 kostenfrei https://doaj.org/article/f4bb733f9a0141ecb31e7e818049e987 kostenfrei https://doi.org/10.1049/stg2.12079 kostenfrei https://doaj.org/toc/2515-2947 Journal toc kostenfrei GBV_USEFLAG_A SYSFLAG_A GBV_DOAJ GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 AR 6 2023 1 38-47
spelling	10.1049/stg2.12079 doi (DE-627)DOAJ080563732 (DE-599)DOAJf4bb733f9a0141ecb31e7e818049e987 DE-627 ger DE-627 rakwb eng TK1-9971 Xiaorong Wang verfasserin aut Rental strategy for energy storage to participate in frequency regulation market 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Abstract Energy storage (ES) can help the renewable energy sources to smooth their output and enhance their profits, which promotes the installation of ES. However, it is inappropriate for small‐scale renewable energy communities (REC) to invest costly ES, which requests a new business model to explore the possibility to rent ES for more returns. This paper proposes an ES rental strategy for REC to participate in the frequency regulation market (FRM). Firstly, the FRM is modelled considering the regulation capacity and mileage price. Then, the rental model for REC is built considering capacity rental costs and ES using costs. The correlation of rental capacity with reserved capacity and mileage is built through rental costs and revenue in FRM. The operation method for ES is carried out to maximise the total profits of REC. Finally, the whole model is demonstrated with a REC which has 35 MW photovoltaic and 113 MW wind turbine. The results show that under different rental and market prices, the REC can effectively choose the optimal rental strategy and its profits can mostly be raised by 19.63%. Electrical engineering. Electronics. Nuclear engineering Yundong Yu verfasserin aut Xiaohe Yan verfasserin aut Nian Liu verfasserin aut In IET Smart Grid Wiley, 2019 6(2023), 1, Seite 38-47 (DE-627)1023132958 (DE-600)2930480-5 25152947 nnns volume:6 year:2023 number:1 pages:38-47 https://doi.org/10.1049/stg2.12079 kostenfrei https://doaj.org/article/f4bb733f9a0141ecb31e7e818049e987 kostenfrei https://doi.org/10.1049/stg2.12079 kostenfrei https://doaj.org/toc/2515-2947 Journal toc kostenfrei GBV_USEFLAG_A SYSFLAG_A GBV_DOAJ GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 AR 6 2023 1 38-47
allfields_unstemmed	10.1049/stg2.12079 doi (DE-627)DOAJ080563732 (DE-599)DOAJf4bb733f9a0141ecb31e7e818049e987 DE-627 ger DE-627 rakwb eng TK1-9971 Xiaorong Wang verfasserin aut Rental strategy for energy storage to participate in frequency regulation market 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Abstract Energy storage (ES) can help the renewable energy sources to smooth their output and enhance their profits, which promotes the installation of ES. However, it is inappropriate for small‐scale renewable energy communities (REC) to invest costly ES, which requests a new business model to explore the possibility to rent ES for more returns. This paper proposes an ES rental strategy for REC to participate in the frequency regulation market (FRM). Firstly, the FRM is modelled considering the regulation capacity and mileage price. Then, the rental model for REC is built considering capacity rental costs and ES using costs. The correlation of rental capacity with reserved capacity and mileage is built through rental costs and revenue in FRM. The operation method for ES is carried out to maximise the total profits of REC. Finally, the whole model is demonstrated with a REC which has 35 MW photovoltaic and 113 MW wind turbine. The results show that under different rental and market prices, the REC can effectively choose the optimal rental strategy and its profits can mostly be raised by 19.63%. Electrical engineering. Electronics. Nuclear engineering Yundong Yu verfasserin aut Xiaohe Yan verfasserin aut Nian Liu verfasserin aut In IET Smart Grid Wiley, 2019 6(2023), 1, Seite 38-47 (DE-627)1023132958 (DE-600)2930480-5 25152947 nnns volume:6 year:2023 number:1 pages:38-47 https://doi.org/10.1049/stg2.12079 kostenfrei https://doaj.org/article/f4bb733f9a0141ecb31e7e818049e987 kostenfrei https://doi.org/10.1049/stg2.12079 kostenfrei https://doaj.org/toc/2515-2947 Journal toc kostenfrei GBV_USEFLAG_A SYSFLAG_A GBV_DOAJ GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 AR 6 2023 1 38-47
allfieldsGer	10.1049/stg2.12079 doi (DE-627)DOAJ080563732 (DE-599)DOAJf4bb733f9a0141ecb31e7e818049e987 DE-627 ger DE-627 rakwb eng TK1-9971 Xiaorong Wang verfasserin aut Rental strategy for energy storage to participate in frequency regulation market 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Abstract Energy storage (ES) can help the renewable energy sources to smooth their output and enhance their profits, which promotes the installation of ES. However, it is inappropriate for small‐scale renewable energy communities (REC) to invest costly ES, which requests a new business model to explore the possibility to rent ES for more returns. This paper proposes an ES rental strategy for REC to participate in the frequency regulation market (FRM). Firstly, the FRM is modelled considering the regulation capacity and mileage price. Then, the rental model for REC is built considering capacity rental costs and ES using costs. The correlation of rental capacity with reserved capacity and mileage is built through rental costs and revenue in FRM. The operation method for ES is carried out to maximise the total profits of REC. Finally, the whole model is demonstrated with a REC which has 35 MW photovoltaic and 113 MW wind turbine. The results show that under different rental and market prices, the REC can effectively choose the optimal rental strategy and its profits can mostly be raised by 19.63%. Electrical engineering. Electronics. Nuclear engineering Yundong Yu verfasserin aut Xiaohe Yan verfasserin aut Nian Liu verfasserin aut In IET Smart Grid Wiley, 2019 6(2023), 1, Seite 38-47 (DE-627)1023132958 (DE-600)2930480-5 25152947 nnns volume:6 year:2023 number:1 pages:38-47 https://doi.org/10.1049/stg2.12079 kostenfrei https://doaj.org/article/f4bb733f9a0141ecb31e7e818049e987 kostenfrei https://doi.org/10.1049/stg2.12079 kostenfrei https://doaj.org/toc/2515-2947 Journal toc kostenfrei GBV_USEFLAG_A SYSFLAG_A GBV_DOAJ GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 AR 6 2023 1 38-47
allfieldsSound	10.1049/stg2.12079 doi (DE-627)DOAJ080563732 (DE-599)DOAJf4bb733f9a0141ecb31e7e818049e987 DE-627 ger DE-627 rakwb eng TK1-9971 Xiaorong Wang verfasserin aut Rental strategy for energy storage to participate in frequency regulation market 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Abstract Energy storage (ES) can help the renewable energy sources to smooth their output and enhance their profits, which promotes the installation of ES. However, it is inappropriate for small‐scale renewable energy communities (REC) to invest costly ES, which requests a new business model to explore the possibility to rent ES for more returns. This paper proposes an ES rental strategy for REC to participate in the frequency regulation market (FRM). Firstly, the FRM is modelled considering the regulation capacity and mileage price. Then, the rental model for REC is built considering capacity rental costs and ES using costs. The correlation of rental capacity with reserved capacity and mileage is built through rental costs and revenue in FRM. The operation method for ES is carried out to maximise the total profits of REC. Finally, the whole model is demonstrated with a REC which has 35 MW photovoltaic and 113 MW wind turbine. The results show that under different rental and market prices, the REC can effectively choose the optimal rental strategy and its profits can mostly be raised by 19.63%. Electrical engineering. Electronics. Nuclear engineering Yundong Yu verfasserin aut Xiaohe Yan verfasserin aut Nian Liu verfasserin aut In IET Smart Grid Wiley, 2019 6(2023), 1, Seite 38-47 (DE-627)1023132958 (DE-600)2930480-5 25152947 nnns volume:6 year:2023 number:1 pages:38-47 https://doi.org/10.1049/stg2.12079 kostenfrei https://doaj.org/article/f4bb733f9a0141ecb31e7e818049e987 kostenfrei https://doi.org/10.1049/stg2.12079 kostenfrei https://doaj.org/toc/2515-2947 Journal toc kostenfrei GBV_USEFLAG_A SYSFLAG_A GBV_DOAJ GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 AR 6 2023 1 38-47
language	English
source	In IET Smart Grid 6(2023), 1, Seite 38-47 volume:6 year:2023 number:1 pages:38-47
sourceStr	In IET Smart Grid 6(2023), 1, Seite 38-47 volume:6 year:2023 number:1 pages:38-47
format_phy_str_mv	Article
institution	findex.gbv.de
topic_facet	Electrical engineering. Electronics. Nuclear engineering
isfreeaccess_bool	true
container_title	IET Smart Grid
authorswithroles_txt_mv	Xiaorong Wang @@aut@@ Yundong Yu @@aut@@ Xiaohe Yan @@aut@@ Nian Liu @@aut@@
publishDateDaySort_date	2023-01-01T00:00:00Z
hierarchy_top_id	1023132958
id	DOAJ080563732
language_de	englisch
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callnumber-first	T - Technology
author	Xiaorong Wang
spellingShingle	Xiaorong Wang misc TK1-9971 misc Electrical engineering. Electronics. Nuclear engineering Rental strategy for energy storage to participate in frequency regulation market
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topic_title	TK1-9971 Rental strategy for energy storage to participate in frequency regulation market
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title	Rental strategy for energy storage to participate in frequency regulation market
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title_sort	rental strategy for energy storage to participate in frequency regulation market
callnumber	TK1-9971
title_auth	Rental strategy for energy storage to participate in frequency regulation market
abstract	Abstract Energy storage (ES) can help the renewable energy sources to smooth their output and enhance their profits, which promotes the installation of ES. However, it is inappropriate for small‐scale renewable energy communities (REC) to invest costly ES, which requests a new business model to explore the possibility to rent ES for more returns. This paper proposes an ES rental strategy for REC to participate in the frequency regulation market (FRM). Firstly, the FRM is modelled considering the regulation capacity and mileage price. Then, the rental model for REC is built considering capacity rental costs and ES using costs. The correlation of rental capacity with reserved capacity and mileage is built through rental costs and revenue in FRM. The operation method for ES is carried out to maximise the total profits of REC. Finally, the whole model is demonstrated with a REC which has 35 MW photovoltaic and 113 MW wind turbine. The results show that under different rental and market prices, the REC can effectively choose the optimal rental strategy and its profits can mostly be raised by 19.63%.
abstractGer	Abstract Energy storage (ES) can help the renewable energy sources to smooth their output and enhance their profits, which promotes the installation of ES. However, it is inappropriate for small‐scale renewable energy communities (REC) to invest costly ES, which requests a new business model to explore the possibility to rent ES for more returns. This paper proposes an ES rental strategy for REC to participate in the frequency regulation market (FRM). Firstly, the FRM is modelled considering the regulation capacity and mileage price. Then, the rental model for REC is built considering capacity rental costs and ES using costs. The correlation of rental capacity with reserved capacity and mileage is built through rental costs and revenue in FRM. The operation method for ES is carried out to maximise the total profits of REC. Finally, the whole model is demonstrated with a REC which has 35 MW photovoltaic and 113 MW wind turbine. The results show that under different rental and market prices, the REC can effectively choose the optimal rental strategy and its profits can mostly be raised by 19.63%.
abstract_unstemmed	Abstract Energy storage (ES) can help the renewable energy sources to smooth their output and enhance their profits, which promotes the installation of ES. However, it is inappropriate for small‐scale renewable energy communities (REC) to invest costly ES, which requests a new business model to explore the possibility to rent ES for more returns. This paper proposes an ES rental strategy for REC to participate in the frequency regulation market (FRM). Firstly, the FRM is modelled considering the regulation capacity and mileage price. Then, the rental model for REC is built considering capacity rental costs and ES using costs. The correlation of rental capacity with reserved capacity and mileage is built through rental costs and revenue in FRM. The operation method for ES is carried out to maximise the total profits of REC. Finally, the whole model is demonstrated with a REC which has 35 MW photovoltaic and 113 MW wind turbine. The results show that under different rental and market prices, the REC can effectively choose the optimal rental strategy and its profits can mostly be raised by 19.63%.
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title_short	Rental strategy for energy storage to participate in frequency regulation market
url	https://doi.org/10.1049/stg2.12079 https://doaj.org/article/f4bb733f9a0141ecb31e7e818049e987 https://doaj.org/toc/2515-2947
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Rental strategy for energy storage to participate in frequency regulation market

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