Energy storage systems cost update : a study for the DOE Energy Storage Systems Program.

Schoenung, Susan M.

doi:10.2172/1013227

Cited by 105 publications

(71 citation statements)

References 6 publications

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“…And then, the battery provides energy for loads in peak demand hours to reduce energy cost. Presently, a variety of batteries with different materials and technologies are available on the market, such as Sodium/Sulfur batteries, Zinc/Bromine batteries and lithium-ion batteries [33]. These batteries can only be charged and discharged for a finite number of times.…”

Section: Energy Storage Systemmentioning

confidence: 99%

Game-theoretic energy management with storage capacity optimization in the smart grids

Gao

Liu

Wei

et al. 2018

J. Mod. Power Syst. Clean Energy

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With the development of smart grids, a renewable energy generation system has been introduced into a smart house. The generation system usually supplies a storage system with the capability to store the produced energy for satisfying a user's future demand. In this paper, the main objective is to determine the best strategies of energy consumption and optimal storage capacities for residential users, which are both closely related to the energy cost of the users. Energy management with storage capacity optimization is studied by considering the cost of renewable energy generation, depreciation cost of storage and bidirectional energy trading. To minimize the cost to residential users, the non-cooperative game-theoretic method is employed to formulate the model that combines energy consumption and storage capacity optimization. The distributed algorithm is presented to understand the Nash equilibrium which can guarantee Pareto optimality in terms of minimizing the energy cost. Simulation results show that the proposed game approach can significantly benefit residential users. Furthermore, it also contributes to reducing the peak-to-average ratio (PAR) of overall energy demand.

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Section: Energy Storage Systemmentioning

confidence: 99%

Game-theoretic energy management with storage capacity optimization in the smart grids

Gao

Liu

Wei

et al. 2018

J. Mod. Power Syst. Clean Energy

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show abstract

“…Table 1 shows estimates for the cost of power and energy of several battery technologies combining the information contained in [6,10,14,32,33]. This separation in the capital costs of energy and power allows the power and energy ratings of the BESS to be dimensioned independently, thereby facilitating the optimization involved in the sizing process.…”

Section: Economic Evaluationmentioning

confidence: 99%

“…In the previous section, the round trip efficiency of the SB was considered to be 75%. However, the efficiency of present commercially available BESS technologies can vary considerably, between 60% and 96% depending on the storage technology [4,[6][7][8]14,22,25,[32][33][34][35][36][37]. In this context, the following figure shows (a) how the cost boundary moves as the efficiency of the battery changes and (b) the cost reductions for the DN when considering the pairs of power and energy costs at the borderlines.…”

Section: Sensitivity Analysismentioning

confidence: 99%

Break-Even Points of Battery Energy Storage Systems for Peak Shaving Applications

et al. 2017

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Abstract:In the last few years, several investigations have been carried out in the field of optimal sizing of energy storage systems (ESSs) at both the transmission and distribution levels. Nevertheless, most of these works make important assumptions about key factors affecting ESS profitability such as efficiency and life cycles and especially about the specific costs of the ESS, without considering the uncertainty involved. In this context, this work aims to answer the question: what should be the costs of different ESS technologies in order to make a profit when considering peak shaving applications? The paper presents a comprehensive sensitivity analysis of the interaction between the profitability of an ESS project and some key parameters influencing the project performance. The proposed approach determines the break-even points for different ESSs considering a wide range of life cycles, efficiencies, energy prices, and power prices. To do this, an optimization algorithm for the sizing of ESSs is proposed from a distribution company perspective. From the results, it is possible to conclude that, depending on the values of round trip efficiency, life cycles, and power price, there are four battery energy storage systems (BESS) technologies that are already profitable when only peak shaving applications are considered: lead acid, NaS, ZnBr, and vanadium redox.

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“…Electricity generating costs continue to vary greatly from region to region, reflecting influences such as the shale gas boom in the United States, changing utilization rates in areas of high renewables penetration, the shortage of local gas production in East Asia, carbon prices in Europe, differing regulations on nuclear power all over the world, and contrasting resources for solar generation [30].…”

Section: Energy Economicsmentioning

confidence: 99%

Electrical Energy Storage Systems Feasibility; the Case of Terceira Island

2017

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Abstract:The Azores Regional Government, through the Sustainable Energy Action Plan for the Azorean Islands, assumed that by the year 2018, 60% of electricity would be generated from renewable energy sources. Nevertheless, by increasing renewable energy sources share in the electricity mix, peak energy that exceeds grid capacity cannot be used unless when considering energy storage systems. Therefore, this article aims at determining, among batteries and Pumped Hydro Systems, the most cost-effective energy storage system to deploy in Terceira Island, along with geothermal, wind, thermal and bio waste energy, while considering demand and supply constraints. It is concluded that a pumped hydro system sited in Serra do Morião-Nasce Água is the best option for storage of the excess generated energy when compared with batteries. However, further studies should analyze environmental constraints. It is demonstrated that by increasing the storage power capacity, a pumped hydro system improves its cost efficiency when compared with batteries. It is also demonstrated that, to ensure quality, economic feasibility, reliability and a reduction of external costs, it is preferable to replace fuel-oil by wind to generate electricity up to a conceivable technical limit, while building a pumped hydro system, or dumping the excess peak energy generated.

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Energy storage systems cost update : a study for the DOE Energy Storage Systems Program.

Cited by 105 publications

References 6 publications

Game-theoretic energy management with storage capacity optimization in the smart grids

Game-theoretic energy management with storage capacity optimization in the smart grids

Break-Even Points of Battery Energy Storage Systems for Peak Shaving Applications

Electrical Energy Storage Systems Feasibility; the Case of Terceira Island

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