Stacked revenues for energy storage participating in energy and reserve markets with an optimal frequency regulation modeling

This paper investigates the opportunity for a Battery Energy Storage System (BESS) to participate in multiple energy markets. The study proposes an offline assessment calculate maximum annual revenues reach optimum stack of services through deterministic simulations. markets include wholesale (day-ahead and intraday), ancillary (frequency regulation reserve), capacity mechanism. case performed on French shows that frequency overperform other markets, where long-term market has least potential. Moreover, providing maximizes battery's revenues, example, participating joint reserve showed 76% increase profits. Furthermore, novel operation approach was proposed enhance performance these by indirectly utilizing products as reserves. results demonstrate formulation allows revenue ∼23% compared conventional framework provision with BESSs. Additionally, have been shown be economically viable 6.2 years payback period after considering battery degradation depreciation cost.