Analysis of heat storage technologies and business model in the peak regulation of power grid

Abstract

The conventional operation mode of “power determined by heat” employed by thermal power plants， along with the randomness and volatility of new energy power generation， constrains the peak regulation capacity. The incorporation of thermal storage technology into grid peak regulation can optimize the allocation capacity of the energy system. The fundamental principles， appropriate materials， advantages， disadvantages， and future development trends of three different thermal storage technologies， namely， sensible heat storage （SHS）， latent heat storage （LHS） and chemical energy storage （CES）， are introduced. Furthermore， the strategies of different thermal storage technologies for power system peak regulation at home and abroad as well as the applications of actual peak regulation projects are discussed. Given the special working conditions faced by thermal storage technology in power grid peak regulation， four critical evaluation criteria， including safety， performance matching， reliability and economy that must be considered for thermal storage technology to participate in power grid peak regulation are proposed. The main business models， including energy management contracting （EMC）， two-part tariff （TPT）， and ancillary service market （ASM） for thermal storage to participate in power trading are explored. These models serve as valuable references for enabling the widespread commercial operation of thermal storage technology within the context of grid peak regulation.

Keywords

• thermal storage technology
• power grid peak regulation
• business model
• ancillary service
• electricity market