Optimal Configuration of Energy Storage Systems Considering the Risk of Insufficient Flexibility

In recent years, the rapid growth of renewable energy has made the power generation cleaner, but also brought challenges to the power system. Volatility and uncertainty of wind power output will aggravate the flexible adjustment requirements of the system and increase the risk of insufficient flexibility. An energy storage configuration model considering the risk of insufficient flexibility is proposed in this paper. Firstly, the mathematical models to quantify the level of flexibility in supplies and requirements are established, and Conditional Value-at-Risk (CVaR) is used to assess the cost of risk; secondly, the attenuation of energy storage life is considered to ensure the full life cycle economy of energy storage systems (ESSs) configuration; thirdly, a two-level programming model of energy storage configuration is established and solved using a mixed integer linear programming (MILP) embedded particle swarm optimization (PSO) algorithm. A case study is carried out based on the IEEE39-bus system to verify the effectiveness and accuracy of the method.