IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v198y2020ics0360544220303820.html
   My bibliography  Save this article

Levelised Cost of Storage (LCOS) analysis of liquid air energy storage system integrated with Organic Rankine Cycle

Author

Listed:
  • Tafone, Alessio
  • Ding, Yulong
  • Li, Yongliang
  • Xie, Chunping
  • Romagnoli, Alessandro

Abstract

Liquid Air Energy Storage (LAES) is a unique decoupled grid-scale energy storage system that stores energy through air liquefaction process. In order to further increase the utilization ratio of the available waste heat discharged by the air compression and not effectively recovered during the discharge phase, the authors have previously investigated the thermodynamic feasibility of different integrated LAES systems and promising results have been shown for the LAES coupled with Organic Rankine Cycle (integrated system LAORC). In order to assess the economic feasibility of the integrated system, this paper presents a techno-economic comparative analysis of the stand-alone LAES and the integrated system LAORC. The LAES systems have been designed by means of the quasi non-dimensional maps developed by the authors and the Levelised Cost of Storage (LCOS) has been employed to evaluate the economic viability of the investment by also comparing the LAES with Li-ion batteries. The results show that the stand-alone LAES system is generally cost-competitive with Li-ion batteries and even more in LAORC integrated system with the advantage of additional power output from the ORC. When LAES is operated in cogenerative configuration, the LAORC integrated system produces the most significant results decreasing the LCOS by 10%.

Suggested Citation

  • Tafone, Alessio & Ding, Yulong & Li, Yongliang & Xie, Chunping & Romagnoli, Alessandro, 2020. "Levelised Cost of Storage (LCOS) analysis of liquid air energy storage system integrated with Organic Rankine Cycle," Energy, Elsevier, vol. 198(C).
    • Handle: RePEc:eee:energy:v:198:y:2020:i:c:s0360544220303820
    DOI: 10.1016/j.energy.2020.117275
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544220303820
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2020.117275?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Tafone, Alessio & Romagnoli, Alessandro & Borri, Emiliano & Comodi, Gabriele, 2019. "New parametric performance maps for a novel sizing and selection methodology of a Liquid Air Energy Storage system," Applied Energy, Elsevier, vol. 250(C), pages 1641-1656.
    2. Antonelli, Marco & Barsali, Stefano & Desideri, Umberto & Giglioli, Romano & Paganucci, Fabrizio & Pasini, Gianluca, 2017. "Liquid air energy storage: Potential and challenges of hybrid power plants," Applied Energy, Elsevier, vol. 194(C), pages 522-529.
    3. Bernagozzi, Marco & Panesar, Angad S. & Morgan, Robert, 2019. "Molten salt selection methodology for medium temperature liquid air energy storage application," Applied Energy, Elsevier, vol. 248(C), pages 500-511.
    4. Zhang, Tong & Chen, Laijun & Zhang, Xuelin & Mei, Shengwei & Xue, Xiaodai & Zhou, Yuan, 2018. "Thermodynamic analysis of a novel hybrid liquid air energy storage system based on the utilization of LNG cold energy," Energy, Elsevier, vol. 155(C), pages 641-650.
    5. Morgan, Robert & Nelmes, Stuart & Gibson, Emma & Brett, Gareth, 2015. "Liquid air energy storage – Analysis and first results from a pilot scale demonstration plant," Applied Energy, Elsevier, vol. 137(C), pages 845-853.
    6. Georgiou, Solomos & Shah, Nilay & Markides, Christos N., 2018. "A thermo-economic analysis and comparison of pumped-thermal and liquid-air electricity storage systems," Applied Energy, Elsevier, vol. 226(C), pages 1119-1133.
    7. Lin, Boqiang & Wu, Wei & Bai, Mengqi & Xie, Chunping & Radcliffe, Jonathan, 2019. "Liquid air energy storage: Price arbitrage operations and sizing optimization in the GB real-time electricity market," Energy Economics, Elsevier, vol. 78(C), pages 647-655.
    8. Guizzi, Giuseppe Leo & Manno, Michele & Tolomei, Ludovica Maria & Vitali, Ruggero Maria, 2015. "Thermodynamic analysis of a liquid air energy storage system," Energy, Elsevier, vol. 93(P2), pages 1639-1647.
    9. She, Xiaohui & Peng, Xiaodong & Nie, Binjian & Leng, Guanghui & Zhang, Xiaosong & Weng, Likui & Tong, Lige & Zheng, Lifang & Wang, Li & Ding, Yulong, 2017. "Enhancement of round trip efficiency of liquid air energy storage through effective utilization of heat of compression," Applied Energy, Elsevier, vol. 206(C), pages 1632-1642.
    10. Aneke, Mathew & Wang, Meihong, 2016. "Energy storage technologies and real life applications – A state of the art review," Applied Energy, Elsevier, vol. 179(C), pages 350-377.
    11. Tafone, Alessio & Borri, Emiliano & Comodi, Gabriele & van den Broek, Martijn & Romagnoli, Alessandro, 2018. "Liquid Air Energy Storage performance enhancement by means of Organic Rankine Cycle and Absorption Chiller," Applied Energy, Elsevier, vol. 228(C), pages 1810-1821.
    12. Tchanche, Bertrand F. & Lambrinos, Gr. & Frangoudakis, A. & Papadakis, G., 2011. "Low-grade heat conversion into power using organic Rankine cycles – A review of various applications," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(8), pages 3963-3979.
    13. Xie, Chunping & Hong, Yan & Ding, Yulong & Li, Yongliang & Radcliffe, Jonathan, 2018. "An economic feasibility assessment of decoupled energy storage in the UK: With liquid air energy storage as a case study," Applied Energy, Elsevier, vol. 225(C), pages 244-257.
    14. Quoilin, Sylvain & Broek, Martijn Van Den & Declaye, Sébastien & Dewallef, Pierre & Lemort, Vincent, 2013. "Techno-economic survey of Organic Rankine Cycle (ORC) systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 22(C), pages 168-186.
    15. Luo, Xing & Wang, Jihong & Dooner, Mark & Clarke, Jonathan, 2015. "Overview of current development in electrical energy storage technologies and the application potential in power system operation," Applied Energy, Elsevier, vol. 137(C), pages 511-536.
    16. Peng, Hao & Shan, Xuekun & Yang, Yu & Ling, Xiang, 2018. "A study on performance of a liquid air energy storage system with packed bed units," Applied Energy, Elsevier, vol. 211(C), pages 126-135.
    17. She, Xiaohui & Zhang, Tongtong & Cong, Lin & Peng, Xiaodong & Li, Chuan & Luo, Yimo & Ding, Yulong, 2019. "Flexible integration of liquid air energy storage with liquefied natural gas regasification for power generation enhancement," Applied Energy, Elsevier, vol. 251(C), pages 1-1.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Qi, Meng & Park, Jinwoo & Lee, Inkyu & Moon, Il, 2022. "Liquid air as an emerging energy vector towards carbon neutrality: A multi-scale systems perspective," Renewable and Sustainable Energy Reviews, Elsevier, vol. 159(C).
    2. Chen, Jiaxiang & Yang, Luwei & An, Baolin & Hu, Jianying & Wang, Junjie, 2022. "Unsteady analysis of the cold energy storage heat exchanger in a liquid air energy storage system," Energy, Elsevier, vol. 242(C).
    3. Maximilian Parzen & Fabian Neumann & Addrian H. Van Der Weijde & Daniel Friedrich & Aristides Kiprakis, 2021. "Beyond cost reduction: Improving the value of energy storage in electricity systems," Papers 2101.10092, arXiv.org, revised Jul 2022.
    4. Muhsin Kılıç & Ayse Fidan Altun, 2023. "Comprehensive Thermodynamic Performance Evaluation of Various Gas Liquefaction Cycles for Cryogenic Energy Storage," Sustainability, MDPI, vol. 15(24), pages 1-25, December.
    5. Bai, Jiayu & Wei, Wei & Chen, Laijun & Mei, Shengwei, 2020. "Modeling and dispatch of advanced adiabatic compressed air energy storage under wide operating range in distribution systems with renewable generation," Energy, Elsevier, vol. 206(C).
    6. Xue, Xiao-Dai & Zhang, Tong & Zhang, Xue-Lin & Ma, Lin-Rui & He, Ya-Ling & Li, Ming-Jia & Mei, Sheng-Wei, 2021. "Performance evaluation and exergy analysis of a novel combined cooling, heating and power (CCHP) system based on liquid air energy storage," Energy, Elsevier, vol. 222(C).
    7. Gugulethu Nogaya & Nnamdi I. Nwulu & Saheed Lekan Gbadamosi, 2022. "Repurposing South Africa’s Retiring Coal-Fired Power Stations for Renewable Energy Generation: A Techno-Economic Analysis," Energies, MDPI, vol. 15(15), pages 1-13, August.
    8. Ding, Xingqi & Zhou, Yufei & Duan, Liqiang & Li, Da & Zheng, Nan, 2023. "Comprehensive performance investigation of a novel solar-assisted liquid air energy storage system with different operating modes in different seasons," Energy, Elsevier, vol. 284(C).
    9. Qi, Meng & Vo, Dat Nguyen & Yu, Haoshui & Shu, Chi-Min & Cui, Chengtian & Liu, Yi & Park, Jinwoo & Moon, Il, 2023. "Strategies for flexible operation of power-to-X processes coupled with renewables," Renewable and Sustainable Energy Reviews, Elsevier, vol. 179(C).
    10. Dzido, Aleksandra & Krawczyk, Piotr & Wołowicz, Marcin & Badyda, Krzysztof, 2022. "Comparison of advanced air liquefaction systems in Liquid Air Energy Storage applications," Renewable Energy, Elsevier, vol. 184(C), pages 727-739.
    11. Qi, Meng & Kim, Minsu & Dat Vo, Nguyen & Yin, Liang & Liu, Yi & Park, Jinwoo & Moon, Il, 2022. "Proposal and surrogate-based cost-optimal design of an innovative green ammonia and electricity co-production system via liquid air energy storage," Applied Energy, Elsevier, vol. 314(C).
    12. Sorknæs, Peter & Thellufsen, Jakob Zinck & Knobloch, Kai & Engelbrecht, Kurt & Yuan, Meng, 2023. "Economic potentials of carnot batteries in 100% renewable energy systems," Energy, Elsevier, vol. 282(C).
    13. Qi, Meng & Park, Jinwoo & Landon, Robert Stephen & Kim, Jeongdong & Liu, Yi & Moon, Il, 2022. "Continuous and flexible Renewable-Power-to-Methane via liquid CO2 energy storage: Revisiting the techno-economic potential," Renewable and Sustainable Energy Reviews, Elsevier, vol. 153(C).
    14. Ma, Haoyuan & Liu, Zhan, 2022. "Preliminary thermodynamic analysis of a carbon dioxide binary mixture cycled energy storage system with low pressure stores," Energy, Elsevier, vol. 246(C).
    15. Borri, Emiliano & Tafone, Alessio & Romagnoli, Alessandro & Comodi, Gabriele, 2021. "A review on liquid air energy storage: History, state of the art and recent developments," Renewable and Sustainable Energy Reviews, Elsevier, vol. 137(C).
    16. Incer-Valverde, Jimena & Hamdy, Sarah & Morosuk, Tatiana & Tsatsaronis, George, 2021. "Improvement perspectives of cryogenics-based energy storage," Renewable Energy, Elsevier, vol. 169(C), pages 629-640.
    17. Huang, Rui & Zhou, Kang & Liu, Zhan, 2022. "Reduction on the inefficiency of heat recovery storage in a compressed carbon dioxide energy storage system," Energy, Elsevier, vol. 244(PB).
    18. Park, Jinwoo & Cho, Seungsik & Qi, Meng & Noh, Wonjun & Lee, Inkyu & Moon, Il, 2021. "Liquid air energy storage coupled with liquefied natural gas cold energy: Focus on efficiency, energy capacity, and flexibility," Energy, Elsevier, vol. 216(C).
    19. Qi, Meng & Lee, Jaewon & Hong, Seokyoung & Kim, Jeongdong & Liu, Yi & Park, Jinwoo & Moon, Il, 2022. "Flexible and efficient renewable-power-to-methane concept enabled by liquid CO2 energy storage: Optimization with power allocation and storage sizing," Energy, Elsevier, vol. 256(C).
    20. Mylena Vieira Pinto Menezes & Icaro Figueiredo Vilasboas & Julio Augusto Mendes da Silva, 2022. "Liquid Air Energy Storage System (LAES) Assisted by Cryogenic Air Rankine Cycle (ARC)," Energies, MDPI, vol. 15(8), pages 1-16, April.
    21. Dzido, Aleksandra & Wołowicz, Marcin & Krawczyk, Piotr, 2022. "Transcritical carbon dioxide cycle as a way to improve the efficiency of a Liquid Air Energy Storage system," Renewable Energy, Elsevier, vol. 196(C), pages 1385-1391.
    22. Smolenski, Robert & Szczesniak, Pawel & Drozdz, Wojciech & Kasperski, Lukasz, 2022. "Advanced metering infrastructure and energy storage for location and mitigation of power quality disturbances in the utility grid with high penetration of renewables," Renewable and Sustainable Energy Reviews, Elsevier, vol. 157(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Borri, Emiliano & Tafone, Alessio & Romagnoli, Alessandro & Comodi, Gabriele, 2021. "A review on liquid air energy storage: History, state of the art and recent developments," Renewable and Sustainable Energy Reviews, Elsevier, vol. 137(C).
    2. Qi, Meng & Park, Jinwoo & Lee, Inkyu & Moon, Il, 2022. "Liquid air as an emerging energy vector towards carbon neutrality: A multi-scale systems perspective," Renewable and Sustainable Energy Reviews, Elsevier, vol. 159(C).
    3. O'Callaghan, O. & Donnellan, P., 2021. "Liquid air energy storage systems: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 146(C).
    4. Legrand, Mathieu & Labajo-Hurtado, Raúl & Rodríguez-Antón, Luis Miguel & Doce, Yolanda, 2022. "Price arbitrage optimization of a photovoltaic power plant with liquid air energy storage. Implementation to the Spanish case," Energy, Elsevier, vol. 239(PA).
    5. Tafone, Alessio & Romagnoli, Alessandro & Borri, Emiliano & Comodi, Gabriele, 2019. "New parametric performance maps for a novel sizing and selection methodology of a Liquid Air Energy Storage system," Applied Energy, Elsevier, vol. 250(C), pages 1641-1656.
    6. Mylena Vieira Pinto Menezes & Icaro Figueiredo Vilasboas & Julio Augusto Mendes da Silva, 2022. "Liquid Air Energy Storage System (LAES) Assisted by Cryogenic Air Rankine Cycle (ARC)," Energies, MDPI, vol. 15(8), pages 1-16, April.
    7. Ayah Marwan Rabi & Jovana Radulovic & James M. Buick, 2023. "Comprehensive Review of Liquid Air Energy Storage (LAES) Technologies," Energies, MDPI, vol. 16(17), pages 1-19, August.
    8. Peng, Xiaodong & She, Xiaohui & Li, Chuan & Luo, Yimo & Zhang, Tongtong & Li, Yongliang & Ding, Yulong, 2019. "Liquid air energy storage flexibly coupled with LNG regasification for improving air liquefaction," Applied Energy, Elsevier, vol. 250(C), pages 1190-1201.
    9. Xue, Xiao-Dai & Zhang, Tong & Zhang, Xue-Lin & Ma, Lin-Rui & He, Ya-Ling & Li, Ming-Jia & Mei, Sheng-Wei, 2021. "Performance evaluation and exergy analysis of a novel combined cooling, heating and power (CCHP) system based on liquid air energy storage," Energy, Elsevier, vol. 222(C).
    10. She, Xiaohui & Zhang, Tongtong & Cong, Lin & Peng, Xiaodong & Li, Chuan & Luo, Yimo & Ding, Yulong, 2019. "Flexible integration of liquid air energy storage with liquefied natural gas regasification for power generation enhancement," Applied Energy, Elsevier, vol. 251(C), pages 1-1.
    11. Vecchi, Andrea & Naughton, James & Li, Yongliang & Mancarella, Pierluigi & Sciacovelli, Adriano, 2020. "Multi-mode operation of a Liquid Air Energy Storage (LAES) plant providing energy arbitrage and reserve services – Analysis of optimal scheduling and sizing through MILP modelling with integrated ther," Energy, Elsevier, vol. 200(C).
    12. Wang, Chen & Zhang, Xiaosong & You, Zhanping & Zhang, Muxing & Huang, Shifang & She, Xiaohui, 2021. "The effect of air purification on liquid air energy storage – An analysis from molecular to systematic modelling," Applied Energy, Elsevier, vol. 300(C).
    13. Vecchi, Andrea & Li, Yongliang & Mancarella, Pierluigi & Sciacovelli, Adriano, 2020. "Integrated techno-economic assessment of Liquid Air Energy Storage (LAES) under off-design conditions: Links between provision of market services and thermodynamic performance," Applied Energy, Elsevier, vol. 262(C).
    14. Wang, Chen & Akkurt, Nevzat & Zhang, Xiaosong & Luo, Yimo & She, Xiaohui, 2020. "Techno-economic analyses of multi-functional liquid air energy storage for power generation, oxygen production and heating," Applied Energy, Elsevier, vol. 275(C).
    15. He, Xiufen & Liu, Yunong & Rehman, Ali & Wang, Li, 2021. "A novel air separation unit with energy storage and generation and its energy efficiency and economy analysis," Applied Energy, Elsevier, vol. 281(C).
    16. Tafone, Alessio & Borri, Emiliano & Comodi, Gabriele & van den Broek, Martijn & Romagnoli, Alessandro, 2018. "Liquid Air Energy Storage performance enhancement by means of Organic Rankine Cycle and Absorption Chiller," Applied Energy, Elsevier, vol. 228(C), pages 1810-1821.
    17. Yang, S., 2022. "Solar-driven liquid air power plant modeling, design space exploration, and multi-objective optimization," Energy, Elsevier, vol. 246(C).
    18. Mousavi, Shadi Bashiri & Ahmadi, Pouria & Adib, Mahdieh & Izadi, Ali, 2023. "Techno-economic assessment of an efficient liquid air energy storage with ejector refrigeration cycle for peak shaving of renewable energies," Renewable Energy, Elsevier, vol. 214(C), pages 96-113.
    19. Frate, Guido Francesco & Ferrari, Lorenzo & Desideri, Umberto, 2021. "Energy storage for grid-scale applications: Technology review and economic feasibility analysis," Renewable Energy, Elsevier, vol. 163(C), pages 1754-1772.
    20. Park, Jinwoo & Cho, Seungsik & Qi, Meng & Noh, Wonjun & Lee, Inkyu & Moon, Il, 2021. "Liquid air energy storage coupled with liquefied natural gas cold energy: Focus on efficiency, energy capacity, and flexibility," Energy, Elsevier, vol. 216(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:198:y:2020:i:c:s0360544220303820. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.