Techno-Economic Comparison of Electricity Storage Options in a Fully Renewable Energy System
To support increasing renewable capacity for a net-zero future, energy storage will play a key role in maintaining grid stability. In this paper, all current and near-future energy storage technologies are compared for three different scenarios: (1) fixed electricity buy-in price, (2) market-based e...
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| Format: | Article |
| Language: | English |
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MDPI AG
2024-02-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/17/5/1084 |
| _version_ | 1797264598309535744 |
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| author | Sebastiaan Mulder Sikke Klein |
| author_facet | Sebastiaan Mulder Sikke Klein |
| author_sort | Sebastiaan Mulder |
| collection | DOAJ |
| description | To support increasing renewable capacity for a net-zero future, energy storage will play a key role in maintaining grid stability. In this paper, all current and near-future energy storage technologies are compared for three different scenarios: (1) fixed electricity buy-in price, (2) market-based electricity buy-in price, and (3) energy storage integrated into a fully renewable electricity system. In the first part of this study, an algorithm is devised to simulate strategic buy-in of electricity for energy storage. This analysis yields a qualitative decision-making tool for a given energy storage duration and size. Building upon the first part’s findings, an integration study gives insight into expected power prices and expected storage size in a typical northwestern European fully renewable energy system. The integration study shows significant need for electricity storage with durations spanning from one to several days, typically around 40 h. Pumped Hydro Storage and Pumped Thermal storage surface as the best options. The overall levelized costs of storage are expected to be in the USD 200–500/MWh range. Integration of storage with renewables can yield a system-levelized cost of electricity of about USD 150/MWh. Allowing flexibility in demand may lower the overall system-levelized cost of electricity to USD 100/MWh. |
| first_indexed | 2024-04-25T00:31:27Z |
| format | Article |
| id | doaj.art-b360187434324fe796e5246879cc45f7 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-04-25T00:31:27Z |
| publishDate | 2024-02-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-b360187434324fe796e5246879cc45f72024-03-12T16:43:16ZengMDPI AGEnergies1996-10732024-02-01175108410.3390/en17051084Techno-Economic Comparison of Electricity Storage Options in a Fully Renewable Energy SystemSebastiaan Mulder0Sikke Klein1Faculty of Mechanical Engineering, Delft University of Technology, 2628 CB Delft, The NetherlandsFaculty of Mechanical Engineering, Delft University of Technology, 2628 CB Delft, The NetherlandsTo support increasing renewable capacity for a net-zero future, energy storage will play a key role in maintaining grid stability. In this paper, all current and near-future energy storage technologies are compared for three different scenarios: (1) fixed electricity buy-in price, (2) market-based electricity buy-in price, and (3) energy storage integrated into a fully renewable electricity system. In the first part of this study, an algorithm is devised to simulate strategic buy-in of electricity for energy storage. This analysis yields a qualitative decision-making tool for a given energy storage duration and size. Building upon the first part’s findings, an integration study gives insight into expected power prices and expected storage size in a typical northwestern European fully renewable energy system. The integration study shows significant need for electricity storage with durations spanning from one to several days, typically around 40 h. Pumped Hydro Storage and Pumped Thermal storage surface as the best options. The overall levelized costs of storage are expected to be in the USD 200–500/MWh range. Integration of storage with renewables can yield a system-levelized cost of electricity of about USD 150/MWh. Allowing flexibility in demand may lower the overall system-levelized cost of electricity to USD 100/MWh.https://www.mdpi.com/1996-1073/17/5/1084batteriesenergy storagegrid stabilityLCOEmarketsmodelling |
| spellingShingle | Sebastiaan Mulder Sikke Klein Techno-Economic Comparison of Electricity Storage Options in a Fully Renewable Energy System Energies batteries energy storage grid stability LCOE markets modelling |
| title | Techno-Economic Comparison of Electricity Storage Options in a Fully Renewable Energy System |
| title_full | Techno-Economic Comparison of Electricity Storage Options in a Fully Renewable Energy System |
| title_fullStr | Techno-Economic Comparison of Electricity Storage Options in a Fully Renewable Energy System |
| title_full_unstemmed | Techno-Economic Comparison of Electricity Storage Options in a Fully Renewable Energy System |
| title_short | Techno-Economic Comparison of Electricity Storage Options in a Fully Renewable Energy System |
| title_sort | techno economic comparison of electricity storage options in a fully renewable energy system |
| topic | batteries energy storage grid stability LCOE markets modelling |
| url | https://www.mdpi.com/1996-1073/17/5/1084 |
| work_keys_str_mv | AT sebastiaanmulder technoeconomiccomparisonofelectricitystorageoptionsinafullyrenewableenergysystem AT sikkeklein technoeconomiccomparisonofelectricitystorageoptionsinafullyrenewableenergysystem |