The national government has recently issued the "14th Five-Year Plan" New Energy Storage Development Implementation Plan and the "Notice on Further Promoting New Energy Storage's Participation in the Power Market and Dispatch Application," which aim to strengthen the development of new energy storage on the power side. These initiatives will promote the construction of system-friendly new energy power stations and clarify the status of new energy storage as an independent market subject. Furthermore, the plans aim to explore new energy storage business models, broaden revenue channels, and improve the standard system of the new energy storage industry chain. By doing so, the integration of new energy and energy storage will play a vital role in stabilizing new energy output, increasing consumption, reducing deviations in power generation plans, and improving grid security and stability.

One way in which energy storage can participate in the power market is through peak shaving auxiliary services. Peak shaving refers to the service provided by electric energy storage to adjust the power generation or consumption based on dispatching instructions in order to track the peak and valley changes of load and new energy output. This service helps maintain a real-time balance of electric energy on both sides of the grid, similar to power trading and peak-valley price differences. By participating in peak shaving auxiliary services, energy storage can effectively manage fluctuations in energy demand and supply, contributing to a more stable and reliable power system.

Another important role for energy storage in the power market is frequency regulation auxiliary services. Frequency regulation involves adjusting the output of grid-connected entities to reduce frequency deviation when the power system frequency deviates from the target frequency. This service helps ensure the stability of the power grid. Electrochemical energy storage, in particular, has advantages in frequency regulation as its Automatic Generation Control (AGC) tracking curve can accurately regulate the frequency without any problems such as regulation deviation and delay. By participating in frequency regulation auxiliary services, energy storage can help maintain a stable power system even with the increasing integration of renewable energy sources.

Energy storage also has the potential to participate in the spot market, specifically in electricity spot market transactions. Independent energy storage power stations can earn the peak-to-valley price difference, known as peak-to-valley arbitrage, by taking advantage of electricity price fluctuations in the spot market. This can be achieved through accurate predictions of spot market electricity prices and optimizing the charging and discharging plan based on the predicted electricity price. While this business model presents challenges in accurately predicting market trends and optimizing operations, it offers the potential for energy storage systems to generate additional revenue by capitalizing on price differences in the power market.

Furthermore, there is the shared energy storage business model, where a third party or manufacturer is responsible for the construction, operation, and maintenance of the energy storage system. In this model, the energy storage system is leased as a commodity to target users. Users have the right to charge and discharge energy storage within a specified time limit to meet their own energy supply needs. This model eliminates the need for users to independently build energy storage power stations, reducing the capital investment required. It follows a "who benefits, who pays" principle, where the rent is collected from the lessee. The shared energy storage business model offers a cost-effective and accessible solution for users to benefit from energy storage without having to make substantial upfront investments.

In conclusion, the national government's initiatives to promote new energy storage development on the power side are focused on various aspects such as system-friendly power station construction, participation in power markets, revenue channel diversification, business model exploration, standard guidance, and safety guarantee. These efforts aim to enhance the integration of new energy and energy storage, contributing to more stable energy output, increased energy consumption, reduced power generation plan deviations, and improved grid security and stability. The different roles of energy storage, including participating in peak shaving and frequency regulation auxiliary services, spot market transactions, and shared energy storage business models, offer opportunities to further harness the potential of this technology in the power market.

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