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Research on Smart Power Sales Strategy Considering Load Forecasting and Optimal Allocation of Energy Storage System in China

Author

Listed:
  • Hongli Liu

    (Tianjin Key Laboratory of New Energy Power Conversion, Transmission and Intelligent Control, Tianjin University of Technology, Tianjin 300384, China)

  • Luoqi Wang

    (Tianjin Key Laboratory of New Energy Power Conversion, Transmission and Intelligent Control, Tianjin University of Technology, Tianjin 300384, China
    School of Electrical Engineering and Automation, Tianjin University of Technology, Tianjin 300384, China)

  • Ji Li

    (Tianjin Key Laboratory of New Energy Power Conversion, Transmission and Intelligent Control, Tianjin University of Technology, Tianjin 300384, China)

  • Lei Shao

    (Tianjin Key Laboratory of New Energy Power Conversion, Transmission and Intelligent Control, Tianjin University of Technology, Tianjin 300384, China)

  • Delong Zhang

    (Tianjin Key Laboratory of New Energy Power Conversion, Transmission and Intelligent Control, Tianjin University of Technology, Tianjin 300384, China)

Abstract

With the deepening reform of the power system, power sales companies need to adopt new power sales strategies to provide customers with better economic marketing solutions. Customer-side configuration of an energy storage system (ESS) can participate in power-related policies to reduce the comprehensive cost of electricity for commercial and industrial customers and improve customer revenue. For power sales companies, this can also attract new customers, expand sales and quickly capture the market. However, most of the ESS evaluation models studied so far are based on historical data configuration of typical daily storage capacity and charging and discharging scheduling instructions. In addition, most models do not adequately consider the performance characteristics of the ESS and cannot accurately assess the economics of the energy storage model. This study proposes an intelligent power sales strategy based on load forecasting with the participation of optimal allocation of ESS. Based on long short-term memory (LSTM) artificial neural network for predictive analysis of customer load, we evaluate the economics of adding energy storage to customers. Based on the premise of the two-part tariff, the ESS evaluation model is constructed with the objective of minimizing the annual comprehensive cost to the user by considering the energy tariff and the savings benefits of the basic tariff, assessing the annualized cost of ESS over its entire life cycle, and the impact of battery capacity decay on economics. The particle swarm optimization (PSO) algorithm is introduced to solve the model. By simulating the arithmetic example for real customers, their integrated electricity costs are significantly reduced. Moreover, this smart power sales strategy can provide different sales strategies according to the expected payback period of customers. This smart sales strategy can output more accurate declared maximum demand values than other traditional sales strategies, providing a more economical solution for customers.

Suggested Citation

  • Hongli Liu & Luoqi Wang & Ji Li & Lei Shao & Delong Zhang, 2023. "Research on Smart Power Sales Strategy Considering Load Forecasting and Optimal Allocation of Energy Storage System in China," Energies, MDPI, vol. 16(8), pages 1-18, April.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:8:p:3341-:d:1119344
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    References listed on IDEAS

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    1. Kyungcheol Shin & Jinyeong Lee, 2024. "Investment Decision for Long-Term Battery Energy Storage System Using Least Squares Monte Carlo," Energies, MDPI, vol. 17(9), pages 1-15, April.

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