Abstract:

With the advancement of the new power system construction, the importance of independent energy storage has become increasingly prominent. However, the imperfect mechanism for its participation in the electricity market in China has affected investment enthusiasm. By comparing international experiences, providing a path reference for the market-oriented development of independent energy storage in China can help promote the healthy and sustainable development of independent energy storage. This paper first introduces the market mechanisms for independent energy storage in the United States, the United Kingdom, and Australia in participating in spot markets, ancillary service markets, and capacity markets. It summarizes the experience of mature foreign markets in fully unleashing the value of energy storage through multi-dimensional market mechanism design, higher price caps in spot markets, and stable capacity market revenues. Secondly, the development status of China's independent energy storage in participating in the spot market, auxiliary service market, capacity market, etc. was summarized, and the shortcomings of the domestic spot market in terms of low price ceiling, single auxiliary service variety, and undeveloped capacity compensation mechanism were analyzed. Finally, by comparing the differences in the participation of independent energy storage in electricity markets between China and foreign countries, this paper draws insights for China's trading mechanisms for independent energy storage in electricity markets, and proposes that China should improve and optimize in terms of enriching the market types for independent energy storage participation, optimizing the price mechanism of spot markets, reasonably channeling the costs of independent energy storage, and strengthening market supervision and risk prevention.

Key words: independent energy storage, electricity market, trading mechanism