Optimal sizing of energy storage in generation expansion planning of new power system with high penetration of renewable energies

With the consumption of fossil fuels and the impact of the greenhouse effect, renewable energies are ushering in a huge development opportunity, thus the optimal configuration of energy storage is essential to cope with the intermittence and fluctuation of renewable energies. This paper establishes a mathematical model for optimal sizing of energy storage in generation expansion planning (GEP) of new power system with high penetration of renewable energies. The objective function is to achieve the lowest total cost of investment and operation under the comprehensive consideration of various generation technologies and energy storage technologies. Carbon peaking and carbon neutrality goals are transformed into constraints of the GEP model to achieve high penetration of renewable energies in a power system. And 8760h operation curve are adopted to deal with the intermittence and fluctuation of renewable energies and obtains a more reasonable and realistic GEP results. Meanwhile, the optimal sizing of energy storage is solved in GEP model by detailed operation optimization and constraints of penetration rate and curtailment rate of renewable energies. Finally, the solving flow chart of GEP model and flow chart of optimal sizing of energy storage are given and the validity of this GEP model is proved in case analysis. In addition, carbon peaking goal may achieve in advance by vigorously developing wind power and PV power and configuring appropriate energy storage