Inertia Ancillary Service Market Mechanism for Renewable-Dominated Power Systems: A Review

With the increasing penetration of renewable energy in power systems, the frequency security risks caused by insufficient inertia have become more significant. As a result, the development of the inertia ancillary service market has become increasingly important. In renewable-dominated power systems, system inertia includes both traditional inertia provided by synchronous motors and virtual inertia provided by converter-interfaced renewable energy sources and energy storage. Current research on the construction of inertia ancillary service market is still in its early stages. This paper firstly introduces the concept of inertia ancillary service, followed by a discussion of the key elements of the inertia ancillary service market mechanism. It then provides a detailed overview of the industrial practices of inertia ancillary service market mechanisms in the UK, Australia, and China. Finally, suggestions are proposed for constructing an inertia ancillary service market to address the low inertia challenges faced by high renewable energy penetration power systems. This study aims to promote the construction and development of the inertia ancillary service market with significant theoretical and practical implications.