Lava energy storage cost composition

How much does energy storage cost in a cavern?

Therefore, efforts to reduce cost of storage via engineering design are expected to gain traction. As long-duration energy storage (diurnal and seasonal) becomes more relevant, it is important to quantify cost for incremental storage in the cavern. The incremental cost for CAES storage is estimated to be $0.12/kWh.

Can a large-scale battery storage project use volcanic rock?

A variety of battery deployments, for storage and production, have been introduced but large-scale storage projects remain few outside of traditional hydroelectric pumped storage. That could change if a large-scale pilot project using volcanic rock as a medium proves effective.

How many MW is a battery energy storage system?

For battery energy storage systems (BESS), the analysis was done for systems with rated power of 1, 10, and 100 megawatts (MW), with duration of 2, 4, 6, 8, and 10 hours. For PSH, 100 and 1,000 MW systems at 4- and 10-hour durations were considered. For CAES, in addition to these power and duration levels, 10,000 MW was also considered.

How much does a solar energy system cost?

In addition to costs for each technology for the power and energy levels listed, cost ranges were also estimated for 2020 and 2030. The dominant grid storage technology, PSH, has a projected cost estimate of $262/kWh for a 100 MW, 10-hour installed system. The most significant cost elements are the reservoir ($76/kWh) and powerhouse ($742/kW).

How much storage does a 100 mw cavern use?

(a) For this study, we are using a maximum of 10 hours of storage. Hence, for a 100 MW system, the cavern size happens to be 1,000 MWh. Hunter et al. (In Press) uses 120 hours of storage, and, therefore, they use 12,000 MWh. The use of 1,000 MWh is necessary for us to do a comparison across technologies for the same 10-hour duration.

Are battery storage costs based on long-term planning models?

Battery storage costs have evolved rapidly over the past several years, necessitating an update to storage cost projections used in long-term planning models and other activities. This work documents the development of these projections, which are based on recent publications of storage costs.