Electricity reform and energy storage

What is agent-based modeling in electricity market reform?

In the context of electricity market reform, this study develops an agent-based modeling framework integrated simulation with optimization. The model uses agent-based simulation to analyze annual market dynamics and low-carbon technology diffusion, with a two-stage optimization for energy storage and spot market simulation.

Can energy storage help maintain grid power supply-demand equilibrium?

However, the inherent intermittency and volatility of renewable energy sources, like wind and solar power, present challenges in maintaining grid power supply-demand equilibrium, prompting the use of flexible technologies such as energy storage as a vital supplement .

Why is China promoting energy storage at the 2025 two sessions?

The buzzword “energy storage” at the 2025 Two Sessions underscores China’s strategic focus on building a resilient, sustainable, and diverse energy system, contributing new efforts to a sustainable global future. The country’s progress in new-type energy storage highlights how innovation can drive both economic and environmental progress worldwide.

How much new energy storage will the NDRC have by 2025?

It has exceeded the target of installing 30GW (equivalent to 60GWh based on the 2C discharge rate, as shown in Table 1) or more of new energy storage by 2025, as proposed in the documents (Guidance on accelerating the development of new energy storage) by the NDRC and the NEA.

What is electrochemical energy storage (EES) technology?

Electrochemical energy storage (EES) technology, as a new and clean energy technology that enhances the capacity of power systems to absorb electricity, has become a key area of focus for various countries. Under the impetus of policies, it is gradually being installed and used on a large scale.

Should thermal power plant capacity be reduced?

Thus it is also necessary to simultaneously curb the expansion of thermal power plant capacity. After 2030, with the increasing share of renewable energy, energy storage becomes more critical in the operation of the power system. However, its demand is limited during specific periods.