Energy Storage Science and Technology ›› 2017, Vol. 6 ›› Issue (5): 1099-1104.doi: 10.12028/j.issn.2095-4239.2017.0082

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Economic modeling and analysis of user-side electrical/thermal comprehensive energy storage system

YUAN Shuangchen1, CAI Shengxia2, WANG Shouxiang1, HUANG Bibin3   

  1. 1Key Laboratory of Smart Grid of Ministry of Education, Tianjin University, Tianjin 300072, China;2Zhou Enlai School of Government, Nankai University, Tianjin 300071, China;3State Grid Energy Research Institution, Beijing 102209, China
  • Received:2017-05-31 Revised:2017-06-21 Online:2017-09-01 Published:2017-09-01

Abstract: The demand for energy gradually diversifies on user side along with the development of smart grid. Therefore, demand for diversified energy on user side needs to be taken into account based on economic analysis of electrical energy storage system (ESS). This paper firstly introduces thermal ESS to form an electrical/thermal comprehensive ESS together with electrical ESS considering the users’ demand for thermal energy. Then the economic model of the comprehensive ESS is built and the initial investment cost, average annual cost and annual earnings of new ESS are analyzed. A test case including two scenarios in which the first does not have thermal ESS while the second takes it into consideration is given to compare the economic performance. The results show that introducing thermal ESS will improve the initial investment cost and annual operating cost, but the whole economy of ESS will rise, thus shortening the life of return of investment, which illustrates the necessity and effectiveness of introducing thermal ESS.

Key words: energy storage system, thermal energy storage, economic analysis, user side