Additional storage technologies will be added as representative cost and performance metrics are verified. The interactive figure below presents results on the total installed ESS cost ranges by technology, year, power capacity (MW), and duration (hr).
An ESS, which participates in the operation of the electricity market as a price-taker, sets the bidding offers according to various electricity prices. Accordingly, a bidding strategy model for ESS under the TOU pricing mechanism is constructed, and the operating strategy for ESS under the TOU pricing mechanism is provided.
This indicates that the ESS can be profitable through peak-shaving and valley-filling under the TOU pricing mechanism if the fixed costs are not shared. The net profit from the operation of the ESS may be negative if the initial investment costs of ESS and equipment O&M costs are spread over each day.
The maximum difference between the peak and valley loads was reduced to 561.331 MW, 224.618 MW lower than the original difference. The same results were obtained for the other scenarios. This demonstrates that all indicators improved significantly, and the TOU pricing model balanced the system load and reduced the peak and valley loads. Fig. 5.
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