IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v13y2020i13p3307-d377408.html
   My bibliography  Save this article

An Evaluation of Energy Storage Cost and Performance Characteristics

Author

Listed:
  • Kendall Mongird

    (Pacific Northwest National Laboratory, Richland, WA 99352, USA)

  • Vilayanur Viswanathan

    (Pacific Northwest National Laboratory, Richland, WA 99352, USA)

  • Patrick Balducci

    (Pacific Northwest National Laboratory, Richland, WA 99352, USA)

  • Jan Alam

    (Pacific Northwest National Laboratory, Richland, WA 99352, USA)

  • Vanshika Fotedar

    (Pacific Northwest National Laboratory, Richland, WA 99352, USA)

  • Vladimir Koritarov

    (Argonne National Laboratory, Lemont, IL 60439, USA)

  • Boualem Hadjerioua

    (Oak Ridge National Laboratory, Oak Ridge, TN 37830, USA)

Abstract

The energy storage industry has expanded globally as costs continue to fall and opportunities in consumer, transportation, and grid applications are defined. As the rapid evolution of the industry continues, it has become increasingly important to understand how varying technologies compare in terms of cost and performance. This paper defines and evaluates cost and performance parameters of six battery energy storage technologies (BESS)—lithium-ion batteries, lead-acid batteries, redox flow batteries, sodium-sulfur batteries, sodium-metal halide batteries, and zinc-hybrid cathode batteries—four non-BESS storage systems—pumped storage hydropower, flywheels, compressed air energy storage, and ultracapacitors—and combustion turbines. Cost and performance information was compiled based on an extensive literature review, conversations with vendors and stakeholders, and costs of systems procured at sites across the United States. Detailed cost and performance estimates are presented for 2018 and projected out to 2025. Annualized costs were also calculated for each technology.

Suggested Citation

  • Kendall Mongird & Vilayanur Viswanathan & Patrick Balducci & Jan Alam & Vanshika Fotedar & Vladimir Koritarov & Boualem Hadjerioua, 2020. "An Evaluation of Energy Storage Cost and Performance Characteristics," Energies, MDPI, vol. 13(13), pages 1-53, June.
    • Handle: RePEc:gam:jeners:v:13:y:2020:i:13:p:3307-:d:377408
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/13/13/3307/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/13/13/3307/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Safari, M., 2018. "Battery electric vehicles: Looking behind to move forward," Energy Policy, Elsevier, vol. 115(C), pages 54-65.
    2. Newbery, D. G., 2016. "A simple introduction to the economics of storage: shifting demand and supply over time and space," Cambridge Working Papers in Economics 1661, Faculty of Economics, University of Cambridge.
    3. Steffen, Bjarne, 2012. "Prospects for pumped-hydro storage in Germany," Energy Policy, Elsevier, vol. 45(C), pages 420-429.
    4. Zakeri, Behnam & Syri, Sanna, 2015. "Electrical energy storage systems: A comparative life cycle cost analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 42(C), pages 569-596.
    5. Jens Noack & Lars Wietschel & Nataliya Roznyatovskaya & Karsten Pinkwart & Jens Tübke, 2016. "Techno-Economic Modeling and Analysis of Redox Flow Battery Systems," Energies, MDPI, vol. 9(8), pages 1-15, August.
    6. Polterovich, Victor & Popov, Vladimir, 2006. "Эволюционная Теория Экономической Политики: Часть I: Опыт Быстрого Развития [An Evolutionary Theory of Economic Policy: Part I: The Experience of Fast Development]," MPRA Paper 22168, University Library of Munich, Germany.
    7. Barbour, Edward & Wilson, I.A. Grant & Radcliffe, Jonathan & Ding, Yulong & Li, Yongliang, 2016. "A review of pumped hydro energy storage development in significant international electricity markets," Renewable and Sustainable Energy Reviews, Elsevier, vol. 61(C), pages 421-432.
    8. Jidai Wang & Kunpeng Lu & Lan Ma & Jihong Wang & Mark Dooner & Shihong Miao & Jian Li & Dan Wang, 2017. "Overview of Compressed Air Energy Storage and Technology Development," Energies, MDPI, vol. 10(7), pages 1-22, July.
    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. Pompodakis, Evangelos E. & Kryonidis, Georgios C. & Karapidakis, Emmanuel S., 2023. "Volt/Var control and energy management in non-interconnected insular networks with multiple hybrid power plants," Applied Energy, Elsevier, vol. 331(C).
    2. Park, Musik & Wang, Zhiyuan & Li, Lanyu & Wang, Xiaonan, 2023. "Multi-objective building energy system optimization considering EV infrastructure," Applied Energy, Elsevier, vol. 332(C).
    3. Jesús Fraile Ardanuy & Roberto Alvaro-Hermana & Sandra Castano-Solis & Julia Merino, 2022. "Carbon-Free Electricity Generation in Spain with PV–Storage Hybrid Systems," Energies, MDPI, vol. 15(13), pages 1-20, June.
    4. Kebede, Abraham Alem & Kalogiannis, Theodoros & Van Mierlo, Joeri & Berecibar, Maitane, 2022. "A comprehensive review of stationary energy storage devices for large scale renewable energy sources grid integration," Renewable and Sustainable Energy Reviews, Elsevier, vol. 159(C).
    5. Hanif, Sarmad & Alam, M.J.E. & Fotedar, Vanshika & Crawford, Alasdair & Vartanian, Charlie & Viswanathan, Vilayanur, 2022. "Managing the techno-economic impacts of partial string failure in multistring energy storage systems," Applied Energy, Elsevier, vol. 307(C).
    6. Brian Jenkins & David Squires & John Barton & Dani Strickland & K. G. U. Wijayantha & James Carroll & Jonathan Wilson & Matthew Brenton & Murray Thomson, 2022. "Techno-Economic Analysis of Low Carbon Hydrogen Production from Offshore Wind Using Battolyser Technology," Energies, MDPI, vol. 15(16), pages 1-20, August.
    7. Gulam Smdani & Muhammad Remanul Islam & Ahmad Naim Ahmad Yahaya & Sairul Izwan Bin Safie, 2023. "Performance Evaluation Of Advanced Energy Storage Systems: A Review," Energy & Environment, , vol. 34(4), pages 1094-1141, June.
    8. Savolainen, Rebecka & Lahdelma, Risto, 2022. "Optimization of renewable energy for buildings with energy storages and 15-minute power balance," Energy, Elsevier, vol. 243(C).
    9. Matthias Maldet & Daniel Schwabeneder & Georg Lettner & Christoph Loschan & Carlo Corinaldesi & Hans Auer, 2022. "Beyond Traditional Energy Sector Coupling: Conserving and Efficient Use of Local Resources," Sustainability, MDPI, vol. 14(12), pages 1-36, June.
    10. Andu Dukpa & Boguslaw Butrylo, 2022. "MILP-Based Profit Maximization of Electric Vehicle Charging Station Based on Solar and EV Arrival Forecasts," Energies, MDPI, vol. 15(15), pages 1-14, August.
    11. Zekai Xu & Jinghan He & Zhao Liu & Zhiyi Zhao, 2023. "Collaborative Optimization of Transmission and Distribution Considering Energy Storage Systems on Both Sides of Transmission and Distribution," Energies, MDPI, vol. 16(13), pages 1-23, July.
    12. King, Marcus & Jain, Anjali & Bhakar, Rohit & Mathur, Jyotirmay & Wang, Jihong, 2021. "Overview of current compressed air energy storage projects and analysis of the potential underground storage capacity in India and the UK," Renewable and Sustainable Energy Reviews, Elsevier, vol. 139(C).
    13. Gabriele Mosconi & Maurizio F. Acciarri, 2023. "Financial Analysis of a Desalination–Wastewater Recycle Plant Powered by a DC-DC Photovoltaic-Batteries System on the Aeolian Islands, Italy," Energies, MDPI, vol. 16(13), pages 1-21, June.
    14. Qiang Zhou & Jianmei Zhang & Pengfei Gao & Ruixiao Zhang & Lijuan Liu & Sheng Wang & Lin Cheng & Wei Wang & Shiyou Yang, 2023. "Two-Stage Robust Optimization for Prosumers Considering Uncertainties from Sustainable Energy of Wind Power Generation and Load Demand Based on Nested C&CG Algorithm," Sustainability, MDPI, vol. 15(12), pages 1-23, June.
    15. Nikita Dmitrievich Senchilo & Denis Anatolievich Ustinov, 2021. "Method for Determining the Optimal Capacity of Energy Storage Systems with a Long-Term Forecast of Power Consumption," Energies, MDPI, vol. 14(21), pages 1-25, October.
    16. Xiang, Pianpian & Jiang, Kejun & Wang, Jiachen & He, Chenmin & Chen, Sha & Jiang, Weiyi, 2024. "Evaluation of LCOH of conventional technology, energy storage coupled solar PV electrolysis, and HTGR in China," Applied Energy, Elsevier, vol. 353(PA).
    17. Julian David Hunt & Behnam Zakeri & Andreas Nascimento & Diego Augusto de Jesus Pacheco & Epari Ritesh Patro & Bojan Đurin & Márcio Giannini Pereira & Walter Leal Filho & Yoshihide Wada, 2023. "Isothermal Deep Ocean Compressed Air Energy Storage: An Affordable Solution for Seasonal Energy Storage," Energies, MDPI, vol. 16(7), pages 1-18, March.
    18. Jiang, Zhu & Palacios, Anabel & Zou, Boyang & Zhao, Yanqi & Deng, Weiyu & Zhang, Xiaosong & Ding, Yulong, 2022. "A review on the fabrication methods for structurally stabilised composite phase change materials and their impacts on the properties of materials," Renewable and Sustainable Energy Reviews, Elsevier, vol. 159(C).
    19. Han, Fengwu & Zeng, Jianfeng & Lin, Junjie & Gao, Chong & Ma, Zeyang, 2023. "A novel two-layer nested optimization method for a zero-carbon island integrated energy system, incorporating tidal current power generation," Renewable Energy, Elsevier, vol. 218(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. Mensah, Johnson Herlich Roslee & Santos, Ivan Felipe Silva dos & Raimundo, Danielle Rodrigues & Costa de Oliveira Botan, Maria Cláudia & Barros, Regina Mambeli & Tiago Filho, Geraldo Lucio, 2022. "Energy and economic study of using Pumped Hydropower Storage with renewable resources to recover the Furnas reservoir," Renewable Energy, Elsevier, vol. 199(C), pages 320-334.
    2. Masebinu, S.O. & Akinlabi, E.T. & Muzenda, E. & Aboyade, A.O., 2017. "Techno-economics and environmental analysis of energy storage for a student residence under a South African time-of-use tariff rate," Energy, Elsevier, vol. 135(C), pages 413-429.
    3. Vasileios Kitsikoudis & Pierre Archambeau & Benjamin Dewals & Estanislao Pujades & Philippe Orban & Alain Dassargues & Michel Pirotton & Sebastien Erpicum, 2020. "Underground Pumped-Storage Hydropower (UPSH) at the Martelange Mine (Belgium): Underground Reservoir Hydraulics," Energies, MDPI, vol. 13(14), pages 1-16, July.
    4. Abrell, Jan & Rausch, Sebastian & Streitberger, Clemens, 2019. "Buffering volatility: Storage investments and technology-specific renewable energy support," Energy Economics, Elsevier, vol. 84(S1).
    5. Gallo, A.B. & Simões-Moreira, J.R. & Costa, H.K.M. & Santos, M.M. & Moutinho dos Santos, E., 2016. "Energy storage in the energy transition context: A technology review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 65(C), pages 800-822.
    6. Hannes Hobbie & Constantin Dierstein & Dominik Möst & Matthew Schmidt, 2023. "Learning by Doing: Insights from Power Market Modelling in Energy Economics Courses," SN Operations Research Forum, Springer, vol. 4(2), pages 1-28, June.
    7. Hilario J. Torres-Herrera & Alexis Lozano-Medina, 2021. "Methodological Proposal for the Assessment Potential of Pumped Hydropower Energy Storage: Case of Gran Canaria Island," Energies, MDPI, vol. 14(12), pages 1-27, June.
    8. Newbery, David & Pollitt, Michael G. & Ritz, Robert A. & Strielkowski, Wadim, 2018. "Market design for a high-renewables European electricity system," Renewable and Sustainable Energy Reviews, Elsevier, vol. 91(C), pages 695-707.
    9. Damdoum, Amel & Slama-Belkhodja, Ilhem & Pietrzak-David, Maria & Debbou, Mustapha, 2016. "Low voltage ride-through strategies for doubly fed induction machine pumped storage system under grid faults," Renewable Energy, Elsevier, vol. 95(C), pages 248-262.
    10. Candra Saigustia & Sylwester Robak, 2021. "Review of Potential Energy Storage in Abandoned Mines in Poland," Energies, MDPI, vol. 14(19), pages 1-16, October.
    11. Cárdenas, Bruno & Ibanez, Roderaid & Rouse, James & Swinfen-Styles, Lawrie & Garvey, Seamus, 2023. "The effect of a nuclear baseload in a zero-carbon electricity system: An analysis for the UK," Renewable Energy, Elsevier, vol. 205(C), pages 256-272.
    12. Dongcheul Lee & Boram Koo & Chee Burm Shin & So-Yeon Lee & Jinju Song & Il-Chan Jang & Jung-Je Woo, 2019. "Modeling the Effect of the Loss of Cyclable Lithium on the Performance Degradation of a Lithium-Ion Battery," Energies, MDPI, vol. 12(22), pages 1-14, November.
    13. Binama, Maxime & Kan, Kan & Chen, Hui-Xiang & Zheng, Yuan & Zhou, Daqing & Su, Wen-Tao & Muhirwa, Alexis & Ntayomba, James, 2021. "Flow instability transferability characteristics within a reversible pump turbine (RPT) under large guide vane opening (GVO)," Renewable Energy, Elsevier, vol. 179(C), pages 285-307.
    14. Mahfoud, Rabea Jamil & Alkayem, Nizar Faisal & Zhang, Yuquan & Zheng, Yuan & Sun, Yonghui & Alhelou, Hassan Haes, 2023. "Optimal operation of pumped hydro storage-based energy systems: A compendium of current challenges and future perspectives," Renewable and Sustainable Energy Reviews, Elsevier, vol. 178(C).
    15. Hunt, Julian David & Freitas, Marcos Aurélio Vasconcelos de & Pereira Junior, Amaro Olímpio, 2017. "A review of seasonal pumped-storage combined with dams in cascade in Brazil," Renewable and Sustainable Energy Reviews, Elsevier, vol. 70(C), pages 385-398.
    16. Cremoncini, Diana & Di Lorenzo, Giuseppina & Frate, Guido Francesco & Bischi, Aldo & Baccioli, Andrea & Ferrari, Lorenzo, 2024. "Techno-economic analysis of Aqueous Organic Redox Flow Batteries: Stochastic investigation of capital cost and levelized cost of storage," Applied Energy, Elsevier, vol. 360(C).
    17. Nzotcha, Urbain & Nsangou, Jean Calvin & Kenfack, Joseph & Ngohe-Ekam, Paul Salomon & Hamandjoda, Oumarou & Bignom, Blaise, 2021. "Combining electric energy storage and deep-lake degassing by means of pumped hydropower," Applied Energy, Elsevier, vol. 304(C).
    18. 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.
    19. Li, Yaowang & Miao, Shihong & Luo, Xing & Yin, Binxin & Han, Ji & Wang, Jihong, 2020. "Dynamic modelling and techno-economic analysis of adiabatic compressed air energy storage for emergency back-up power in supporting microgrid," Applied Energy, Elsevier, vol. 261(C).
    20. Linda Barelli & Gianni Bidini & Paolo Cherubini & Andrea Micangeli & Dario Pelosi & Carlo Tacconelli, 2019. "How Hybridization of Energy Storage Technologies Can Provide Additional Flexibility and Competitiveness to Microgrids in the Context of Developing Countries," Energies, MDPI, vol. 12(16), pages 1-22, August.

    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:gam:jeners:v:13:y:2020:i:13:p:3307-:d:377408. 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: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    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.