Electric thermal energy storage furnace construction cost

How much does thermal energy storage cost?

In our base case, the cost of thermal energy storage requires a storage spread of 13.5 c/kWh for a 10MW-scale molten salt system to achieve a 10% IRR, off of $350/kWh of capex costs. Costs are sensitive to capex, utilization rates, opex, electricity prices and round trip losses. The sensitivities can be stress tested in the data-file.

How much does a heat storage system cost?

Costs of latent heat stor-age systems based on PCMs range between €10-50/kWh while TCS costs are estimated to range from €8-100/kWh. The economic viability of a TES depends heavily on application and operation needs, including the number and frequency of the storage cycles.

How long does an energy storage system last?

The 2020 Cost and Performance Assessment analyzed energy storage systems from 2 to 10 hours. The 2022 Cost and Performance Assessment analyzes storage system at additional 24- and 100-hour durations.

What is thermal energy storage?

Thermal Energy Storage (TES) can store thermal energy directly and at a large capacity. The most common TES systems are direct sensible, latent heat, and thermo-chemical storages. Their energy source is either solar thermal or industrial waste heat, where the end-use of these systems is for heating, drying and cooling purposes .

How much does a thermochemical storage system cost?

Thermo-chemical storage (TCS) systems can reach storage ca-pacities of up to 250 kWh/t with operation temperatures of more than 300°C and efi ciencies from 75% to nearly 100%. The cost of a complete system for sensible heat storage ranges between €0.1-10/kWh, depending on the size, application and thermal insulation technology.

What is a thermal energy storage data-file?

This data-file captures the costs of thermal energy storage, buying renewable electricity, heating up a storage media, then releasing the heat for industrial, commercial or residential use. Our base case requires 13.5 c/kWh-th for a 10% IRR, however 5-10 c/kWh-th heat could be achieved with lower capex costs.