The participation of Independent Energy Storages in Electricity Markets: A Suvey and Perspectives of Jiangxi Province

Abstract

Energy storage will play an essential role in maintaining the power balance of the new power system, which is mainly based on renewable energy sources. Recently, China has been vigorously promoting the development and application of new energy storage and has issued relevant policy documents to promote further the participation of new energy storage in the electricity market. Therefore, it is urgent to establish a market mechanism well adapted to energy storage participation. This paper first investigates the current state of energy storage technology, the situation and the mechanical principle of domestic and foreign energy storage participation in the market. Then the development opportunities and challenges the new energy storage faces are clarified. Finally, based on the development of Jiangxi's electricity market, the mechanism of Jiangxi's independent energy storage participation in various types of electricity markets is designed.