What is shared energy storage service?

Shared storage service is an effective approach toward a grid with high penetration of renewable energy. The application prospects of shared energy storage services have gained widespread recognition due to the increasing use of renewable energy sources.

How do energy storage systems work?

1.1. Literature review Energy storage systems are effectively integrated into various levels of power systems, such as power generation, transmission/distribution, and residential levels, in order to facilitate capacity sharing and time-based energy transfer. This integration promotes the consumption of renewable energy .

What is a sharing economy (SES) energy storage system?

By incorporating the concept of the sharing economy into energy storage systems, SES has emerged as a new business model . Typically, large-scale SES stations with capacities of more than 100 MW are strategically located near renewable energy collection stations and are funded by one or more investors .

What are energy storage systems?

Energy storage systems are integrated into RES-based power systems as backup units to achieve various benefits, such as peak shaving, price arbitrage, and frequency regulation.

Can NSGA-II be used to promote shared energy storage mode?

In this way, targeted policies could be tailored based on these aspects to further promote the shared energy storage mode. Furthermore, it is important to note that while the NSGA-II algorithm was employed in this paper to obtain feasible solutions, these solutions may be local optimal optima.

Can Pareto NGSA-II promote a new energy & energy storage business model?

By using the widely-acknowledged NGSA-II algorithm, a set of Pareto alternative planning solutions are obtained, which can promote the combined “new energy + energy storage” business model.