Energy storage capacity cost mechanism

What are the performance parameters of energy storage capacity?

Our findings show that energy storage capacity cost and discharge efficiency are the most important performance parameters. Charge/discharge capacity cost and charge efficiency play secondary roles. Energy capacity costs must be ≤US$20 kWh –1 to reduce electricity costs by ≥10%.

Do charge power and energy storage capacity investments have O&M costs?

We provide a conversion table in Supplementary Table 5, which can be used to compare a resource with a different asset life or a different cost of capital assumption with the findings reported in this paper. The charge power capacity and energy storage capacity investments were assumed to have no O&M costs associated with them.

How are power capacity costs modelled?

All capacity costs were modelled on a fully installed basis. Charge and discharge efficiencies were assumed to be invariant with discharge or charge rate or state of charge. Charge and discharge power capacity costs were based on a.c. power injected or withdrawn from the grid and assumed inclusion of grid interconnection costs.

Can energy storage technologies help a cost-effective electricity system decarbonization?

Other work has indicated that energy storage technologies with longer storage durations, lower energy storage capacity costs and the ability to decouple power and energy capacity scaling could enable cost-effective electricity system decarbonization with all energy supplied by VRE 8, 9, 10.

What is charge/discharge capacity cost & charge efficiency?

Charge/discharge capacity cost and charge efficiency play secondary roles. Energy capacity costs must be ≤US$20 kWh –1 to reduce electricity costs by ≥10%. With current electricity demand profiles, energy capacity costs must be ≤US$1 kWh –1 to fully displace all modelled firm low-carbon generation technologies.

Can energy capacity and discharge power capacity be varied independently?

In our exploration of the LDES design space it was assumed that the three scaling dimensions, that is, energy capacity, discharge power capacity and charge power capacity, can be varied independently, even though all three degrees of freedom are not possible for certain technologies.