National subject assessment of energy storage science and engineering

What is a techno-economic assessment of energy storage technologies?

Techno-economic assessments (TEAs) of energy storage technologies evaluate their performance in terms of capital cost, life cycle cost, and levelized cost of energy in order to determine how to develop and deploy them in the power network.

What are the potential value and development prospects of energy storage technologies?

By means of technical economics, the potential value and development prospects of energy storage technologies can be revealed from the perspective of investors or decision-makers to better facilitate the deployment and progress of energy storage technologies.

What is an ESS system?

An ESS is a system that converts energy from one form, usually electricity, to another form that can be reserved in a storage medium and then converted back to electricity when required , .

What equipment is involved in an energy storage system?

To more accurately reflect the technical and economic performance of the energy storage system throughout its entire life cycle, the main equipment involved in the system has been categorized into power conversion equipment, energy storage media, and balance-of-plant components (BOPs).

What are the benefits of energy storage technology?

Energy storage technology can effectively shift peak and smooth load, improve the flexibility of conventional energy, promote the application of renewable energy, and improve the operational stability of energy system [, , ].

Does storage duration affect the cost of energy?

We found that, because of economies of scale, the levelized cost of energy decreases with an increase in storage duration. In addition, performance parameters such as round-trip efficiency, cycle life, and cycle length highly influence the final costs and environmental footprints of various storage technologies.