Economic Analysis of Compressed Air Energy Storage System and its Application in Wind Farm

With the increasing application of energy storage technology in power grid, the traditional chemical energy storage technologies such as kinds of batteries have exposed the problems of low capacity, high cost and short service life. Compressed air energy storage system (CAES) provides a promising large-scale and low-cost energy storage solution. In this paper, the key technologies of compressed air energy storage system are analyzed, and an new economic model is established, which takes into account the life cycle cost, direct income and potential income, to analyze the economic efficiency of compressed air energy storage system. At the same time, a control model of compressed air energy storage system based on filter is proposed and the simulation proves that it is effective in the application of stabilizing wind farm power output fluctuation. The research in this paper can provide a reference for the pricing and operation of compressed air energy storage system in power grid.