As impetus to society from fossil fuel to low-carbon energy era

energy storage with swiftness and accuracy applies itself in frequency regulation in power system under the issue on frequency stability caused by large-scale intermittent resources integrating with power grid. Nowadays 164 projects of megawatt-scale energy storage in nearly 20 countries around the world is under construction or operation for frequency regulation

which penetrate into generation

transmission and distribution system as well as the demand side. Firstly through the statistical analysis in the category structure of known projects

this paper summarizes relevant parameters in storage selection. Secondly from existing operating modes

distinct technical requirements as well as related policies and market rules are analyzed. Thirdly based on status quo of regulation markets both at home and abroad

the measuring and settlement methods and policies for commercial application of storage in regulation are researched. Finally

suggestions on how to commercialize energy storage in regulation field in China are put forward.