Cost-optimal operation strategy for integrating large scale of renewable energy in China's power system: From a multi-regional perspective. (1st November 2022) - Li, Ru
Highlights: Develop an hourly-resolution, multi-region model with total system cost optimized. Energy storage technology can meet 85.8%-by-2050 renewable energy penetration. UHVDC transmission technology is the most economical way for RES integration. Optimal combination of UHVDC grid and ES can achieve 74.2% renewables penetration. The cost-optimal operation strategy varies among six regions in planning period. Abstract: High renewable energy penetration is an effective way to decarbonize the power system. However, many studies focus on the economics of integrating renewables at the generation-side rather than system-wide. This paper aims to explore the cost-optimal operation strategies of a renewable-dominant power system. Considering both cost reduction potential of energy storage technology and regional investment cost variance of ultra-high voltage direct current grids, an hourly-resolution, multi-region model with total system costs minimized is proposed. Moreover, energy storage-based, ultra-high voltage direct current-based, and mixed scenarios are taken into consideration to investigate the economics of high renewables penetration. The results show that energy storage technology can achieve maximum penetration of renewable energy at 85.8% while the total system cost is 11.8% higher than that of ultra-high voltage direct current transmission technology. Although ultra-high voltage direct current grid is the most economical option to integrate renewables, the penetration is 13 percentage points lower than that of energy storage technology. The combination of energy storage technology and ultra-high voltage direct current grid can achieve 74.2% renewable energy penetration, saving 9.4% of total system costs compared to that of energy storage technology only. The cost-optimal option for East and South China is to promote both energy storage and ultra-high voltage direct current technologies. Energy storage technology is preferred among North, Northwest and Northeast China, while ultra-high voltage direct current grid is the optimal option for Center China.