A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Review and Techno-Economic Analysis of Emerging Thermo-Mechanical Energy Storage Technologies
Thermo-mechanical energy storage can be a cost-effective solution to provide flexibility and balance highly renewable energy systems. Here, we present a concise review of emerging thermo-mechanical energy storage solutions focusing on their commercial development. Under a unified framework, we review technologies that have proven to work conceptually through project demonstration at a scale above 1 MW by describing the current state of commercial development, quantifying techno-economic parameters, outlining the challenges, and assessing each technology’s potential for commercial viability. The levelized cost of storage for thermo-mechanical energy storage at storage duration between 8 h and 1 week is cheaper than that of lithium-ion batteries and hydrogen storage; however, energy storage for such duration does not pay for itself at the current renewable penetration levels. For medium-term energy storage to be viable, at the realistic storage cost of 15 USD/kWh to 40 USD/kWh, the investment cost for power components should decrease to one-fifth of the current costs. Thermo-mechanical energy storage can be economically viable at the current investment costs in off-grid systems only when the marginal cost of alternative fuel exceeds 100 USD/MWh. We identified the cost ratio (charge power cost/discharge power cost) and the discharge efficiency as the critical technology-related performance parameters. Other external factors such as wind and solar fractions, demand, interconnections, sector coupling, and market structure play an important role in determining the economic feasibility of thermo-mechanical energy storage.
Review and Techno-Economic Analysis of Emerging Thermo-Mechanical Energy Storage Technologies
Thermo-mechanical energy storage can be a cost-effective solution to provide flexibility and balance highly renewable energy systems. Here, we present a concise review of emerging thermo-mechanical energy storage solutions focusing on their commercial development. Under a unified framework, we review technologies that have proven to work conceptually through project demonstration at a scale above 1 MW by describing the current state of commercial development, quantifying techno-economic parameters, outlining the challenges, and assessing each technology’s potential for commercial viability. The levelized cost of storage for thermo-mechanical energy storage at storage duration between 8 h and 1 week is cheaper than that of lithium-ion batteries and hydrogen storage; however, energy storage for such duration does not pay for itself at the current renewable penetration levels. For medium-term energy storage to be viable, at the realistic storage cost of 15 USD/kWh to 40 USD/kWh, the investment cost for power components should decrease to one-fifth of the current costs. Thermo-mechanical energy storage can be economically viable at the current investment costs in off-grid systems only when the marginal cost of alternative fuel exceeds 100 USD/MWh. We identified the cost ratio (charge power cost/discharge power cost) and the discharge efficiency as the critical technology-related performance parameters. Other external factors such as wind and solar fractions, demand, interconnections, sector coupling, and market structure play an important role in determining the economic feasibility of thermo-mechanical energy storage.
Review and Techno-Economic Analysis of Emerging Thermo-Mechanical Energy Storage Technologies
Gautam, Khem Raj (author) / Bruun Andresen, Gorm (author) / Victoria, Marta (author)
2022-09-01
Gautam , K R , Bruun Andresen , G & Victoria , M 2022 , ' Review and Techno-Economic Analysis of Emerging Thermo-Mechanical Energy Storage Technologies ' , Energies , vol. 15 , no. 17 , 6328 . https://doi.org/10.3390/en15176328
Article (Journal)
Electronic Resource
English
Comparative techno-economic analysis of large-scale renewable energy storage technologies
| DOAJ | 2023
Evaluation Framework for Techno-economic Analysis of Energy System Retrofit Technologies
| BASE | 2023
| American Institute of Physics | 2018