Energy storage reservoir cost analysis

Which energy storage technologies are included in the 2020 cost and performance assessment?

The 2020 Cost and Performance Assessment provided installed costs for six energy storage technologies: lithium-ion (Li-ion) batteries, lead-acid batteries, vanadium redox flow batteries, pumped storage hydro, compressed-air energy storage, and hydrogen energy storage.

What are reservoir costs?

Reservoir costs can consist of various components including roller-compacted concrete, cleaning, emergency spillways, excavation and grout, and inlet/outlet structures and accessories (Bailey, 2020). Reservoir costs are addressed in greater detail in the next section.

Are mechanical energy storage systems cost-efficient?

The results indicated that mechanical energy storage systems, namely PHS and CAES, are still the most cost-efficient options for bulk energy storage. PHS and CAES approximately add 54 and 71 €/MWh respectively, to the cost of charging power. The project׳s environmental permitting costs and contingency may increase the costs, however.

Are there other energy storage technologies under R&D?

Other electricity storage technologies There are other EES systems under R&D that are not studied in this contribution due to the lack of information about their costs and functionality, including nano-supercapacitors, hydrogen–bromine flow batteries, advanced Li-ion batteries, novel mechanical energy storage systems (based on gravity forces).

How much does energy storage cost?

The cost of the energy storage component of the system is primary due to the cost of forming the dam wall, which in turn is proportional to the volume of the dam wall, R. (Equation 2) E n e r g y s t o r a g e c o s t ($ M W h) ≅ 4.8 x 10 5 ∗ C R V H Here C = $168 is the average total cost of the reservoir construction in $/m 3 of earth moved.

How big is energy storage compared to other utility-scale energy storage projects?

In contrast, by the end of 2019, all other utility-scale energy storage projects combined, such as batteries, flywheels, solar thermal with energy storage, and natural gas with compressed air energy storage, amounted to a mere 1.6 GW in power capacity and 1.75 GWh in energy storage capacity.