What is a capacity expansion model for multi-temporal energy storage?

This paper proposes a capacity expansion model for multi-temporal energy storage in renewable energy base, which advantages lie in the co-planning of short-term and long-term storage resources. This approach facilitates the annual electricity supply and demand equilibrium at renewable energy bases and reduces the comprehensive generation costs.

Why is capacity expansion modelling important in energy-system decarbonization?

As grid planners, non-profit organizations, non-governmental organizations, policy makers, regulators and other key stakeholders commonly use capacity expansion modelling to inform energy policy and investment decisions, it is crucial that these processes capture the value of energy storage in energy-system decarbonization.

Can energy storage be expanded across different thermal power units?

With a step length of 500 MW, capacity expansion planning for energy storage is conducted across varying thermal power capacities. The results are shown in Fig. 10. Fig. 10. Planning results of energy storage under different thermal power unit capacities.

How does long-term energy storage affect demand?

However, as the costs of long-term energy storage gradually decline to half of the forecasted costs, the demand for power capacity of long-term storage experiences a sixfold increase, while the requirement for short-term storage diminishes by 40 %, bringing the demand ratio of the two to a near equilibrium at approximately 1:1.

Why is long-duration energy storage important in a decarbonized power system?

In decarbonized power systems, the increasing energy demand necessitates long-duration energy storage. These storage technologies play a crucial role in managing the intermittent nature of renewable energy, offering grid flexibility, minimizing curtailment, and ensuring reliable and resilient power supply.

Why is long-term energy storage important?

Nonetheless, as the installed capacity of thermal power continues to decrease and renewable energy bases face more severe challenges in supply balance over extended periods, long-term energy storage becomes indispensable. The demand for its capacity subsequently increases to address energy fluctuations over longer time scales. 4.3.2.