Capacity Optimization and Economic Evaluation of Battery Energy Storage System for Qinghai Province based on Time Series Simulation Technology

With the rapid development of renewable energy power in Qinghai province, the utilization rate of renewable energy has become to a new challenge. Large-scale battery energy storage system (BESS) is an effective way to promote the utilization of renewable energy. In this paper, a method on capacity optimization and economic evaluation of BESS is proposed based on sequential production simulation technology. An optimization model is established to maximize the utilization of renewable energy, considering constraints of system power balance, operation mode of BESS and conventional units. The annual power outputs of renewable energy are incorporated as inputs for optimizing the hourly charging and discharging power of BESS. The discount cash flow method is adopted to evaluate the economic benefits of BESS. In case studies, a set of scenarios for Qinghai province with different power rating and energy capacity of BESS are tested, and the best plans of BESS in Qinghai province is obtained. The testing results verify the effectiveness of the proposed method.