The development of techno-economic models for large-scale energy storage systems
Loading...
Date
Citation for Previous Publication
Kapila, Sahil, Oni, Abayomi Olufemi, & Kumar, Amit (2017). The development of techno-economic models for large-scale energy storage systems. Energy, 140, 656-672.
Link to Related Item
https://doi.org/10.1016/j.energy.2017.08.117
Abstract
Description
The development of a cost structure for energy storage systems (ESS) has received limited attention. In this study, we developed data-intensive techno-economic models to assess the economic feasibility of ESS. The ESS here includes pump hydro storage (PHS) and compressed air energy storage (CAES). The costs were developed using data-intensive bottom-up models. Scale factors were developed for each component of the storage systems. The life cycle costs of energy storage were estimated for capacity ranges of 98-491 MW, 81-404 MW, and 60-298 MW for PHS, conventional CAES (C-CAES), and adiabatic CAES (A-CAES), respectively, to ensure a market-driven price can be achieved. For CAES systems, costs were developed for storage in salt caverns hard rock caverns, and porous formations. The results show that the annual life cycle storage cost is $220-400 for PHS, $215-265 for C-CAES, and $375-480 per kW-year for A-CAES. The levelised cost of electricity is $69-121 for PHS, $58-70 for C-CAES, and $96-121 per MWh for A-CAES. C-CAES is economically attractive at all capacities, PHS is economically attractive at higher capacities, and A-CAES is not attractive at all. The developed information is helpful in making investment decision related to large energy storage systems.
Item Type
http://purl.org/coar/resource_type/c_6501 http://purl.org/coar/version/c_71e4c1898caa6e32 http://purl.org/coar/version/c_b1a7d7d4d402bcce
Alternative
Other License Text / Link
Language
en