Economic benefit evaluation and incentive strategy research on Wind energy and BESS jointly participating in reducing the forecast deviation penalty

The battery energy storage system (BESS) is developing from the demonstration project to the stage of business promotion Due to the unsound Economic benefit evaluation, which restricts the large-scale promotion and construction of BESS. This paper establishes the life cycle cost and income model of BESS and uses the dynamic investment payback period, net present value (NPV), internal rate of return (IRR) and other economic indicators to analyze the economy of offshore wind power with BESS in reducing forecast deviation penalty. At the same time, aiming at stimulating the enthusiasm of the wind farm to allocate energy storage, we studied the improvement of the penalty rules of wind power forecast deviation. The research results can provide an engineering economic reference for the investment decision of BESS.