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Sensitivity analysis of levelized cost of hydro-pneumatic electricity storage for grid support applications

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  • Silva, João
  • Maia Alves, J.

Abstract

The first sensitivity analysis of hydro-pneumatic levelized cost of electricity storage for a set of twelve power system applications, ranging from primary response to seasonal storage, is done, using as parameters the specific power and energy investment costs and round-trip efficiency. The electric-to-electric round-trip efficiency for hydro-pneumatic energy storage systems is discussed, using a lab-scale hydro-pneumatic energy storage system that was built using commercially available bladder hydraulic accumulators. In general, the results show that hydro-pneumatic energy storage can be very competitive whenever the number of annual cycles is sufficiently high, as happens in the case of primary response application but, even for applications with a low number of annual cycles, it can be competitive for applications with a high ratio power/capacity. A comparison with the dominant technologies, pumped hydro and Li-Ion, shows that, for the highest hydro-pneumatic energy storage investment costs considered, this technology will only be competitive for primary response, but, for the lowest investment costs considered, hydro-pneumatic energy storage is more cost-effective than Li-Ion for all applications, and can even be more cost-effective than pumped hydro in four of the twelve applications. The main challenges to the development of hydro-pneumatic energy storage systems are discussed.

Suggested Citation

  • Silva, João & Maia Alves, J., 2023. "Sensitivity analysis of levelized cost of hydro-pneumatic electricity storage for grid support applications," Renewable Energy, Elsevier, vol. 219(P1).
    • Handle: RePEc:eee:renene:v:219:y:2023:i:p1:s0960148123012004
    DOI: 10.1016/j.renene.2023.119285
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    References listed on IDEAS

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