What is an energy storage system?
An energy storage system is designed to store electricity generated from various sources for future use. It comprises four primary components: energy storage equipment, energy conversion equipment, a control system, and a monitoring system. This system finds applications across the power generation side, grid infrastructure side, and end-user consumption side, catering to large-scale industrial and commercial operations as well as general household needs. With the advantages of low cost, high safety, and long lifecycle of energy storage system batteries, the combination of “renewable energy + energy storage” can significantly enhance the overall efficiency and benefits of energy management throughout its entire lifecycle.
Power Side
The energy storage system integrates with solar power, wind power, thermal power, and other systems to provide storage and output management on the power generation side. By optimizing the charging and discharging strategies, the system ensures efficient energy management. The consistency of battery cells and the efficacy of the battery management system (BMS) are critical for maintaining stable power generation. These factors optimize the power output curve, reduce the curtailment of wind and solar energy, provide essential power regulation functions, increase the share of renewable energy in the energy mix, and enhance the overall energy structure.
Grid Side
The grid-side energy storage power station can provide grid frequency regulation, transmission congestion relief and peak load transfer services according to the grid load conditions. Utilizing long-life, high-safety energy storage batteries, it assists large power grids in providing auxiliary services for peak and frequency regulation, supports dynamic capacity expansion for transmission hubs, facilitates peak load reduction and valley filling for regional power grid loads, and ensures safe, stable, efficient, and cost-effective grid operation.
Consumption Side
Energy storage systems can offer users peak-valley arbitrage, stable backup power supply, and dynamic capacity expansion, etc. They can be applied in large industrial and commercial sectors, as well as residential households, to smooth peak loads, alleviate the burden of peak energy consumption, reduce societal electricity costs, enhance electricity supply security, and maximize energy utilization for optimal social and economic benefits.
Why energy storage systems?
Due to the wave characteristics of electricity prices, the cost of electricity varies greatly depending on the production time, severely impacting the overall electricity expenses of users. By integrating energy storage systems, users can charge during off-peak periods and discharge during peak periods to support production, significantly reducing electricity costs. Additionally, combining energy storage with photovoltaic power generation can further lower electricity expenses.
Profit from Price Differences
By implementing an energy storage charging and discharging strategy, enterprises can charge batteries during off-peak periods when electricity prices are lower. During peak demand periods, these batteries supply power to the load, effectively shifting the peak load and generating profits from the difference in electricity prices.
Demand
Optimization
By implementing an energy storage charging and discharging strategy, enterprises can charge batteries during off-peak periods when electricity prices are lower. During peak demand periods, these batteries supply power to the load, effectively shifting the peak load and generating profits from the difference in electricity prices.
Spot
Trading
In the electricity spot market, prices fluctuate over time due to short intervals between transactions and deliveries. Energy storage adjusts its charging and discharging strategies based on real-time spot prices to achieve maximum arbitrages.
Demand
Response
Enterprises adjust their electricity consumption (reduce and increase) to promote the stability of the power system. Enterprises can also obtain certain compensation.