The integration of the battery storage system and coupling of the cooling and power sector for increased flexibility under the consideration of energy and reserve market

•A comparison method between energy-only and energy and reserve model.•Higher revenue for flexible technologies was achieved for joint model.•The down reserve proved to be more required in high RES systems.•The study showed significant difference in operation between two models. The requirements for ancillary services in energy systems are growing as the amount of renewable energy sources such as solar and wind increases. On the other hand, the system can benefit from extra sources of flexibility thanks to the increased digitalization that enables successful integration of demand response and energy storage. The majority of recent energy system analysis research did not consider the regulation markets. As a result, these investigations preclude the ability to fully evaluate the advantages of energy storage and flexible cooling loads. With the method outlined in this paper, it is possible to compare the two strategies and assess the advantages of energy storage and flexible cooling loads for each strategy. In addition to the energy storage systems, the case study in this paper focuses on flexible cooling loads as a significant consumer in the system. According to the findings, the system's operating costs increased by 19.4% when reserve limitations were placed. Furthermore, the findings demonstrated that when flexible assets were permitted to participate in the reserve market, they generated significantly higher incomes. According to the findings, mechanisms that will allow energy storage and demand response to provide reserve capacities as well as the growth of reserve markets are both necessary.