Unveiling the nexus between energy storage and electricity markets in academic publications. A data-driven analysis of emerging trends and market dynamics using NLP, sentiment analysis and probabilistic modeling
Year: 2024
Type: article
Abstract: This research provides an exploration of the interactions between Energy Storage Systems (ESS) and electricity markets using advanced analytics and generative models. The methodology employed in our research integrates data processing techniques such as Natural Language Processing (NLP), sentiment analysis and Latent Dirichlet Allocation (LDA) to offer a novel approach to investigating the nexus between ESS and electricity markets. By analyzing 9580 publications indexed in the Web of Science in the last five years, our research uncovers emerging trends, sentiments and market dynamics related to ESS. Key techniques, including compound annual growth rate, sentiment analysis and generative probabilistic modeling, reveal the pivotal role of ESS in facilitating the energy transition. The “day-ahead market” is found to be the most referenced in literature, with 333 mentions, followed by “reserve markets” (240) and “ancillary service markets” (173). In contrast, the “intra-day market” is less explored with only 8 mentions, suggesting a growing area for future research. Sentiment analysis indicates an increasing positivity towards ESS, reflecting its expanding role in power system security and market design. Sentiment scores are cross-validated between VADER and TextBlob, showing strong alignment in the results, with VADER identifying an overall increase in positive sentiment towards ESS technologies over time. This research contributes to advancing the understanding of ESS's role in the energy sector and their nexus with the electricity markets. • Publications on Energy Storage Systems (ESS) & electricity markets explored via generative models and sentiment analysis • Day-ahead market as central to ESS research, with 333 mentions from 2018 to 2024 • Intraday market - an emerging topic in ESS research • Sentiment trends: Positive sentiment towards ESS research • 4 key ESS topics: power system security, tech, environmental issues and market design
Source: Journal of Energy Storage
Authors: Simona-Vasilica Oprea, Adela Bâra
Institution: Bucharest University of Economic Studies
Language: English
Subfield: Energy Engineering and Power Technology
Field: Energy
Domain: Physical Sciences
Open Access status: hybrid
Estimated APC paid: $3,030
OpenAlex ID: W4405098889