Capacity and Operation Planning Model of Energy Storage System in Power Spot Market

To promote the development of energy storage system (ESS) technology and the configuration of ESS in power system under the background of power market, this paper establishes a two-stage optimization model of capacity and operation planning based on the participation of ESS in power spot market. Firstly, the mechanism of ESS participating in the spot market is expounded and the market operation cost and benefit are modeled. Secondly, the first-stage capacity planning model is constructed with the goal of minimizing the initial investment, maintenance and operation costs of ESS and the total operation costs of conventional units, and the optimal ESS capacity can be obtained by solving the first stage model. Then, the second-stage optimal scheduling model is constructed with the goal of minimizing the electricity purchase costs of the market operator, and the revenue of ESS in the electric energy market and auxiliary service market is calculated. Finally, the feasibility and effectiveness of the proposed method are verified by a modified IEEE-30 system case.