What is user-side energy storage?

1. Introduction User-side energy storage mainly refers to the application of electrochemical energy storage systems by industrial, commercial, residential, or independent powerplant customers (which in convenience we call "firms").

What are the challenges of user-side energy storage development?

Then the challenges of current user-side energy storage development, such as uncertainty of electricity price policy and the lack of household energy storage market, are investigated.

Why do we need a simulation dataset for energy storage systems?

Unlike other simulation analyses that rely on hypothetical parameters , this particular dataset provides us with the technical specifications of an energy storage system and allows us to calculate the model parameters. This project operates to maximize its own revenue by selecting appropriate energy usage periods.

What is the economics of energy storage?

The economics of energy storage represents the decision of whether or not to invest in energy storage technologies. Unlike the feed-in-tariff (FIT), which is mainly determined by the supply and demand in the electricity market, the peak-valley spread is a reflection of the time differentials of electricity as a commodity .

How does the inflation Reduction Act affect user-side energy storage firms?

The introduction of the Inflation Reduction Act (IRA) by the United States has presented new opportunities for the user-side energy storage firms by providing incentives such as the investment tax credits (ITC) for clean energy projects ( ).

How much power does a battery energy storage system have?

This battery energy storage system has a rated power and a rated capacity of 1 MW/2MWh. The storage project solely focuses on peak-valley spread arbitrage and does not participate in the auxiliary peak-shaving services or the demand response.