Proceedings of the 2023 4th International Conference on Management Science and Engineering Management (ICMSEM 2023)

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A Comprehensive Value Evaluation Model of Energy Storage in Frequency Modulation Market Based on Matter-Element Extension Theory

Authors
Su Yibo1, *, Jia Na1, Zhou Xuyan1, Wang Penglei1, Wang Lin1, Yue Bo1
1Institute of Science and Technology, China Three Gorges Corporation, Beijing, China
*Corresponding author. Email: 1503113774@qq.com
Corresponding Author
Su Yibo
Available Online 9 October 2023.
DOI
10.2991/978-94-6463-256-9_181How to use a DOI?
Keywords
Energy storage system; Frequency Modulation market; Comprehensive evaluation; Matter-element extension theory
Abstract

With the “double carbon” goal proposed, the application of renewable energy with clean and low-carbon characteristics in the power grid has been paid more and more attention. Firstly, the value evaluation system of independent energy storage participating in frequency modulation is proposed for compressed air energy storage, lithium iron phosphate battery energy storage and all-vanadium flow battery energy storage. Secondly, the proposed value evaluation system is designed based on the least square method to assign weights to subjective and objective indicators, which is more objective and reasonable. After that, the matter-element extension theory is used to evaluate the proposed index system. By establishing the correlation between “pollutant reduction” and “renewable energy consumption contribution” and other indicators, this paper obtains the comprehensive value of independent energy storage participating in the frequency modulation market from multiple perspectives. Finally, according to the actual operation data of Mengxi power grid, the results show that the method can accurately measure the value of independent energy storage participation in frequency modulation, and can accurately measure the advantages and disadvantages of various types of energy storage participation in frequency modulation market indicators.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 4th International Conference on Management Science and Engineering Management (ICMSEM 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
9 October 2023
ISBN
978-94-6463-256-9
ISSN
2352-5428
DOI
10.2991/978-94-6463-256-9_181How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Su Yibo
AU  - Jia Na
AU  - Zhou Xuyan
AU  - Wang Penglei
AU  - Wang Lin
AU  - Yue Bo
PY  - 2023
DA  - 2023/10/09
TI  - A Comprehensive Value Evaluation Model of Energy Storage in Frequency Modulation Market Based on Matter-Element Extension Theory
BT  - Proceedings of the 2023 4th International Conference on Management Science and Engineering Management (ICMSEM 2023)
PB  - Atlantis Press
SP  - 1776
EP  - 1787
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-256-9_181
DO  - 10.2991/978-94-6463-256-9_181
ID  - Yibo2023
ER  -