Energy Storage Science and Technology ›› 2022, Vol. 11 ›› Issue (1): 397-404.doi: 10.19799/j.cnki.2095-4239.2021.0379

• Technical Economic Analysis of Energy Storage • Previous Articles    

Economic assessment for energy storage technologies adaptive to variable renewable energy

Jian LIU()   

  1. National Renewable Energy Center, National Development and Reform Commission, Beijing 100038, China
  • Received:2021-07-26 Revised:2021-08-23 Online:2022-01-05 Published:2022-01-10

Abstract:

Low-cost energy storage is the pivot to future energy systems with a high variable renewable energy (VRE) penetration. Current economic studies on the energy storage measured by the levelized cost of storage (LCOS) are normally based on the technical specifications of storage products rather than on real-life operation conditions. The LCOS is highly influenced by the changing operation conditions when the VRE increases. This study focuses on the LCOS comparisons of various energy storage technologies based on provincial case studies in the western part of China, where the VRE has become the mainstream in the electric power supply. The key factors that are likely to influence the LCOS (e.g., power system regulation duration, regulation frequency, and VRE curtailment) are investigated individually herein.

Key words: electric-chemical energy storage, pumped hydro storage, hydrogen, levelized cost of storage, variable renewable energy

CLC Number: