With the proposal of the “carbon peak and neutrality” target, various new energy storage technologies are emerging. The development of energy storage in China is accelerating, which has extensively promoted the development of energy storage technology. Even though several reviews of energy storage technologies have been published, there are still some gaps that need to be filled, including: a) the development of energy storage in China; b) role of energy storage in different application scenarios of the power system; c) analysis and discussion on the business model of energy storage in China. Thus, this part needs to be summarized. Energy storage has entered the preliminary commercialization stage from the demonstration project stage in China. Therefore, to realize the large-scale commercialization of energy storage, it is necessary to analyze the business model of energy storage. Providing readers with an overview of energy storage will contribute to the future development of energy storage business models. 

Energy storage in China: Development progress and business model

Key problems of gas‐fired power plants participating in peak load regulation: A review

As the prevailing technology for energy storage, the extensive adoption of lithium-ion batteries (LIBs) inevitably results in the accumulation of numerous spent batteries at the end of their lifecycle. From the standpoints of environmental protection and resource sustainability, recycling emerges as an essential strategy to effectively manage end-of-life LIBs and reclaim valuable elements within them. Hydrometallurgy, closely intertwined with catalysis, stands as a relatively mature strategy for achieving high-value utilization of spent LIBs. In this review, our emphasis is placed on the interconnected themes of catalysis within the realm of hydrometallurgical recycling. Specifically, we delve into the crucial role that catalysis plays in both the recycling process of LIBs and the sustainable utilization of their extracted materials in various catalytic applications. This focused exploration aims to contribute insights into the intricate relationship between catalysis and the broader context of LIB recycling, shedding light on its pivotal role in achieving both environmental sustainability and functional material repurposing. Moreover, we highlight advanced characterization techniques, represented by surface-sensitive enhanced Raman spectroscopy, to fundamentally understand the reaction mechanism of catalysts, which, in turn, would inform more rational catalyst designs.

Recycling valuable materials from the spent lithium ion batteries to catalysts: methods, applications, and characterization

Renewable energy generation (REG) has continued to grow strongly and resulted in the lower profitability of conventional generation. Meanwhile, the indeterminacy of REG will also lead to electricity balancing challenges and more volatile and less-predictable physical flows in the power grid. In this case, a capacity market is essential to motivate new investments and, therefore, ensure supply adequacy. Considering the low-carbon transition goal and the requirements of the reliability of the power system, this paper develops a reliability-constrained capacity market framework in which the reliability criterion rather than the capacity supply–demand equilibrium is taken into account. The ramping constraints, devices’ random failures, and REG uncertainties are comprehensively considered in the capacity requirement determination and allocation. First, a comprehensive capacity market mechanism coordinated with multi-objective regulations is proposed to compensate the capacity providers and encourage the renewable energy transition. Then, a novel capacity market model is proposed to clear the market with reliability constraints. Moreover, to reduce the computational burden caused by the explicit consideration of reliability constraints, several techniques are applied including the root-event-based state screening technique and the adaptive Kriging metamodel. A modified IEEE-RTS-79 case is studied to illustrate the benefits of the proposed reliability-constrained capacity market model.

Reliability-constrained capacity market design with high proportions of renewable energies

With the high penetrations of renewable energies, demand response technology is widely implemented to ensure the balance between supply and demand and improve the utilization efficiency of energy resources. Demand response aggregators play an important role in implementing the technology for it integrates the scattered demand response resources to participate in the electricity markets and regulation markets. However, the economic benefits of demand response aggregators are rarely considered in the existing studies. To address this issue, this paper presents a bi-level clustering model to cluster demand response resources with the goal of maximizing the aggregators’ profits. The bi-level clustering model combines 1) the inner market-clearing model to determine the electricity prices and total aggregators’ profits under certain clustering results and 2) the outer k-means clustering model to get the optimal clustering results. The effectiveness of the proposed bi-level clustering model is verified in an IEEE 30-bus test system. 

Bi-Level Clustering Model to Maximize the Profits of Demand Response Aggregators in Electricity Markets

The role of demand response resources is particularly important under the new-type power system with new energy as the main source. Demand response resources are important for generation adequacy and can provide electricity capacity value for power system. The United States and the UK are the only countries in the world that offer capacity services from demand response resources as generation resources. Their experiences and lessons learned are of great significance to other countries and regions. This paper first analyzes the significance of DR resource participating in the capacity market from two perspectives: the development of demand response resources and system generation capacity. Secondly, a detailed analysis of the mechanism design of demand response resources in the US capacity market is presented and the development status of demand response resources since 2007 is provided, so as to provide meaningful reference for other countries and regions. Thirdly, this study introduces the current situation and dilemma of demand response resources in the capacity market of the UK, and provides corresponding suggestions so that demand response resources in other countries and regions can avoid repeating the pace of the UK in the capacity market. Finally, suggestions for demand response resources to participate in the capacity market are given from four aspects.

/pdf/experiences-and-lessons-learned-from-dr-resources-3igtmcba.pdf

Experiences and Lessons Learned From DR Resources Participating in the US and UK Capacity Markets: Mechanisms, Status, Dilemmas and Recommendations

Energy storage plays a crucial role in the safe and stable operation of power systems under high renewable energy penetration. Unlike conventional energy sources, the special physical characteristics of battery energy storage make it challenging to apply in practice. Some countries have been developing battery energy storage for a long time, and it is worthwhile to learn from the policies and market mechanisms for the development of battery energy storage to clear the obstacles for large-scale development and participation in the power market. This study focuses on the current status of battery energy storage, development policies, and key mechanisms for participating in the market and summarizes the practical experiences of the US, China, Australia, and the UK in terms of policies and market mechanisms. Then, the challenges of the current development of battery energy storage are analyzed, and suggestions are made in terms of policies and market mechanisms, so as to provide a reference for the development of battery energy storage in other countries or regions.

Development status, policy, and market mechanisms for battery energy storage in the US, China, Australia, and the UK

The auxiliary service market has its own operating characteristics. From the characteristics of the variety of in-depth peak-shaving auxiliary services, it needs service providers with high charge and discharge power and long duration. From the perspective of FM, what is needed is a service provider with fast adjustment and precise control. This paper analyzes and solves different key problems, and the design of market rules has its own characteristics, puts forward the principle and way to benefit from the peak-shaving market, and shows the relationship between resources and energy.

Analysis of The Relationship between Electricity Market and Climate Based on "Double Carbon"

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Experiences and Lessons Learned From DR Resources Participating in the US and UK Capacity Markets: Mechanisms, Status, Dilemmas and Recommendations

Development status, policy, and market mechanisms for battery energy storage in the US, China, Australia, and the UK

Analysis of The Relationship between Electricity Market and Climate Based on "Double Carbon"