Energy Storage Science and Technology ›› 2023, Vol. 12 ›› Issue (4): 1295-1301.doi: 10.19799/j.cnki.2095-4239.2022.0645

• Technical Economic Analysis of Energy Storage • Previous Articles     Next Articles

Technical economic characteristics and development trends of compressed air energy storage

Weiling ZHANG(), Han GU, Chao ZHANG, Ang GE, Yuanxu YING   

  1. China Electric Power Planning & Engineering Institute, Beijing 100120, China
  • Received:2022-11-02 Revised:2022-12-08 Online:2023-04-05 Published:2023-05-08
  • Contact: Weiling ZHANG E-mail:wlzhang@eppei.com

Abstract:

In recent years, compressed air energy storage (CAES) has garnered much research attention as an important type of new energy storage. Since 2021, several 10 MW CAES projects were completed and connected to power systems. This technology has gradually matured and industrialized. In this study, the main technology roadmaps and four key parts of CAES are briefly introduced. Then the study focuses on advanced adiabatic CAES (AA-CAES), which is currently the most widely used technology. After the technical and economic data of the existing and planning projects are analyzed, the characteristics and development trends of CAES are summarized. With respect to its technical aspects, CAES has long operation lifespan, system-friendly performance, and low security risk. In the future, CAES can be developed in a larger scale, with improved efficiency and increased system application. With respect to its economic aspects, CAES has relatively high cost of construction. With further development in the industry and progress in technology, CAES based on salt-cave-air-storage and artificial-chamber-air-storage will be cheaper than the current large-and-middle-sized pumped storage, and CAES based on pipeline-steel-air-storage may become as cheap as small-and-middle-sized pumped storage of comparable scale. In the end, this paper discusses the investment payback of CAES. Under the current market environment, CAES projects can hardly receive reasonable profits. Therefore, there is a need for supporting policies. Thus, it is recommended that policies can first be implemented on several demonstration projects and then price support can be offered to a certain extent.

Key words: compressed air energy storage, technical and economic analysis, development trend

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