The economic performance of a compressed CO2 energy storage system for load shifting

Abstract

With the features of large-scale and long-term energy storage, compressed CO2 energy storage (CCES) represents an efficient way to achieve load shifting and reduce fluctuations of electricity load. Therefore, the economic performance of a CCES system for load shifting was assessed in this paper. The two optimization modes, i.e., single-objective and multi-objective optimization, were proposed to determine the CCES operation. The reduction of load variance is the sole objective of singleobjective optimization. In the case of multi-objective optimization, the objective is to maximize CCES system income while minimizing load variation. According to the simulation findings, the load variance can be decreased from its original value of 8725.4 to 678.5 in the singleoptimization outcome, and the CCES system can generate an income of 49.6 kUSD. The Pareto optimality in the multi-objective optimization demonstrates a negative correlation between the variation of the load and the income of the CCES system.