Storage Futures Study: Economic Potential of Diurnal Storage in the U.S. Power Sector

Abstract

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Storage Futures Study: Key Learnings for the Coming Decades

“…Economic Potential of Diurnal Storage in the U.S. Power Sector (Frazier et al 2021) Assesses the economic potential for utility-scale diurnal storage and the effects that storage capacity additions could have on power system evolution and operations.…”

“…Figure 7 shows the potential of both flexible demand and storage to be utilized significantly in the power sector. These results are from supplemental analysis performed for this report Columns 1 and 3 provide results from base scenarios in Frazier et al (2021). Columns 2 and 4 assume additional demand response deployments to evaluate their impact on storage and overall investment decisions.…”

“…The relationships between wind and diurnal storage are less correlated, as wind does not exhibit a consistent daily pattern, and the synergies between wind and storage occur across longer time periods. There are also important relationships between wind and the ability of storage to provide transmission benefits (Jorgenson, Denholm, and Mai 2018), making the (Frazier et al 2021) overall interaction between storage and wind more complicated than the interaction between storage and PV.…”

“…Storage capacity as a function of renewable energy contribution (%). 100% RE Study: Quantifying the Challenge of Reaching a 100% Renewable Energy Power System for the United States (Cole et al 2021) Solar Futures: Solar Futures Study (DOE 2021) Standard Scenarios: 2020 Standard Scenarios Report (Cole et al 2020) Storage Futures: Storage Futures Study: Economic Potential of Diurnal Storage in the U.S. Power Sector(Frazier et al 2021)…”

“…Figure 14. The average duration of new storage deployments increases as the total amount of storage capacity grows, up to approximately 200 GW (using reference storage costs).Source:Frazier et al 2021 …”