Abstract: Driven by the goals of carbon peaking and carbon neutrality, renewable energy power grid scale expands rapidly, which is a serious threat to the security of the power system and the economic benefits of traditional coal power units. In some regions, even phenomena of zero and negative electricity prices have occurred, requiring further tapping into the deep peak regulation capacity of coal power units to achieve near-zero-load peak regulation. The Circulating Fluidized Bed (CFB) boiler, with its powerful heat storage capacity and unique banked fire operation, possess the possibility of near-zero load peak shaving. Banked fire for heat standby and rapid startup peak regulation technology is expected to be one of the key technologies to solve the problem of zero and negative tariffs. Therefore, based on the current deep peak regulation capacity of CFB boilers and the frontier technology of banked fire peak regulation domestically and internationally, the feasibility and technical challenges of banked fire for hot standby and rapid startup peak regulation technology are explored, and the key factors affecting the duration of banked fire are summarized and analyzed. Typical 300 MW grade CFB boilers can extend the duration of banked fire by raising bed temperature and pressure, and reducing load. However, due to the limitations of the boilers’ total heat storage capacity, it can only achieve approximately 2 h duration of banked fire peak regulation, which is a long way from solving the issues of zero and negative traffic. To improve the flexibility of banked fire peak regulation, it is necessary to get rid of the traditional banked fire mode without coal and wind, and extend the banked fire duration through supplementing heat to the furnace during banked fire and reducing the difficulty of startup. The cutting-edge technical approaches include periodic banked fire technology and preheat-CFB banked fire technology. However, the operation of these technologies is difficult and not yet mature enough to be widely applied. Future development directions should include more in-depth basic theoretical research, coupling with frontier technologies such as energy storage, and the development of new furnace types and intelligent measurement and control systems. This will promote the rapid development of banked fire peak regulation technology and help solve acute issues in the electricity market.