This report ($2,225 through November 30) summary comes from the authors at Energy Storage Update
When considered in the context of major technology development and commercialization in the electric power industry, grid-scale storage has arrived at a critical juncture. In contrast to the previous reliance on pumped hydro-storage, many technologies have reached commercialization with lithium-ion (Li-ion) standing out as the technology of choice in applications ranging from 1 MW to 50 MW. In the meantime, market demand for grid-scale storage keeps on growing. One of the main drivers for storage has been the increase in grid connected renewables which, given their intermittency, have accentuated the need for storage to mitigate disruption to the grid.
In this context, 2013 saw California impose storage targets of 1.3 GW by 2020 on its three investor-owned utilities. Many expect that similar targets could be imposed in other states which are increasing their share of renewables to decarbonize their electricity mix. For example, Hawaii is an interesting candidate since it is an island state, which makes its conversion to renewable energy problematic without storage. The appeal of storage is in its flexibility and the ability to harness intermittent sources of renewable energy. However, given the large number of applications and technologies available, it has been difficult to establish the economics of energy storage systems. The aim of this report is to offer clarity by providing realistic life-cycle cost analysis on the main energy storage technologies, with particular emphasis on Li-ion batteries and compressed air storage (CAES).
Lifetime cost analysis: Find out what it costs to build and operate utility scale Liion and CAES storage facilities Expected cost reductions: Understand the factors that could drive down the costs of grid scale energy storage solutions Pros and cons of energy storage technologies: Learn how storage technologies compare against each other and against non-storage options which deliver similar benefit.
The company says the report answers these questions:
■ What are the life time costs of utility scale Li-ion and CAES storage?
■ What are the pros and cons of the main energy storage technologies?
■ Which technologies have been commercially deployed and what are their applications?
■ Which energy storage options are more cost effective for each application?
■ What are the expected cost reductions of the main technologies in a five year time-frame?
Topics covered in the report:
■ Lifetime cost analysis: Find out what it costs to build and operate utility scale Li-ion and CAES storage facilities
■ Cost breakdown: Get insight into the cost of each component part of a storage system
■ Expected cost reductions: Understand the factors that could drive down the costs of grid scale energy storage solutions
■ Pros and cons of energy storage technologies: Learn how storage technologies compare against each other and against non-storage options which deliver similar benefits
■ Practical applications of energy storage technologies: Get clarity on how storage technologies have actually been deployed in the USA and beyond
Filed Under: Energy storage, News