Analysis of Energy Storage Value Evolution Considering Cycle Aging Cost

To promote the gradual transition of power systems towards low-carbon transformation and effectively manage the intermittent nature and fluctuations of variable renewable energy (VRE), large-scale deployment of energy storage resources has become an inevitable choice. Among the critical factors influencing energy storage costs, the cycle aging of energy storage directly impacts the formulation of charging and discharging strategies, consequently affecting the evolution of its system value. Nonetheless, existing research encounters challenges in directly applying battery degradation models to the planning process. Moreover, there’s a lack of analysis regarding the trend of energy storage system value considering cycle aging. This article aims to bridge this gap by initially establishing an aging model specifically tailored for battery energy storage (BES). This model utilizes a segmented linear cost function to represent the aging cost resulting from charging and discharging behaviors, aligning more closely with the practical operations of BES. Subsequent to this, a storage planning model that incorporates cycle aging considerations is formulated. Finally, employing the IEEE-24 test system as a foundation, this study calculates the level of value provided by BES under various boundary conditions. It also analyzes the evolution trend of energy storage value considering multiple influencing factors. Based on the research findings, suggestions for development are proposed to facilitate the rational planning of energy storage resources within the framework of low-carbon transformations.