Multi-Objective Optimization of Hybrid Energy Storage Economy and Frequency Stability Considering Energy Storage Regulation Ability

With the emerging high penetrations of renewable energy in power systems, the percentage of conventional resources is shrinking, and the grid frequency regulations suffer from the subsequent challenges. In this work, a multi-objective optimization framework is formulated, considering both the frequency regulation requirement and economic feasibility, by utilizing the hybrid energy storage systems (HESS). The frequency regulation capability of energy storage systems (ESS) is also quantified based on the operational flexibility and adjustment ranges. The optimization problem is solved by using the Cplex with MATLAB. For case studies, the historical data from RegD of PJM regions in the United States is used. And the results verified that the proposed method can successfully improve the system frequency regulation and provide an economical friendly portfolio for ESS operators.