Economic Analysis of Energy Storage Peak Shaving Considering Full Life Cycle Cost

As an effective means to improve the wind power consumption capacity of power system, the economy of energy storage participation auxiliary service has received extensive attention from academic circles. In this paper, the cost composition of the whole life cycle of the electrochemical energy storage system is comprehensively considered, and the economic analysis of different Wheres of electrochemical energy storage participating in peak shaving auxiliary services is conducted according to the operation rules of the power market in northeast China. Firstly, four widely used electrochemical energy storage systems were selected as the representative, and the control strategy of source-side energy storage system was proposed for real-time peak modulation in wind farms. Secondly, the peak shaving economic model based on the life cycle cost of energy storage is constructed. Finally, by selecting the annual data of a wind farm in northeast China, the economic benefits of different Wheres of electrochemical energy storage are analyzed and compared, and the reasonable opinions on improving the benefits of energy storage are given.