Research Information System
Evolutionary Intelligence, vol.18, no.4, 2025 (ESCI)
The increasing integration of energy storage is transforming the operations of today’s electricity markets. This review analyses the problems linked to the variability of renewable energy sources and the integration of distributed energy resources into existing power systems. It underlines the market model gap, which is able to deal with the operational problems that such variability creates. Additionally, this review shows that optimizing the utilization and management of energy storage systems leads to improved grid reliability, system economy, and economic resilience. A comprehensive study is performed for both conventional and deregulated markets, capturing the details of the relevant policy context and other modeling elements, including optimization methods, stochastic modeling, game theory, and artificial intelligence. Relevant Australian and Japanese real-world case studies have been analysed to demonstrate the practical application of these systems and their market activities and storage optimization strategies. This review also identifies important technological drivers, analyses new technologies, and assesses the environmental and social impacts of large-scale energy storage systems. All of these works are accompanied by conclusions meant to outline the gaps that future works should target.