Energy_Storage_Technologies.pdf

It should be noted that some of the sources of system

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It should be noted, that some of the sources of system parameters used in this document [2,3,5–7] may have slightly different definitions of which category each component fits in (for example do the transformers fit under PCS or BOP). Computing the Total System Cost First the above terms and a few parameters are assigned symbols. System Costs C P C Power capacity cost [$/kW] C EC Energy capacity cost [$/kWh] C P CS Power conversion system costs (PCS) [$/kW] C BOP Balance of plant costs [$/kw] C OM Operations and maintenance fixed cost [$/kW-yr] C cap Overnight capital cost [$] C tom Total lifetime O&M cost [$] C tot Total system cost [$] System Parameters P max Power capacity of the system [kW] E max Energy capacity of the system [kWh] N Years of operation [years] r Discount rate 7
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Storage Technology Basics Cost Breakdown To compute the total overnight capital cost of the system, multiply the power capacity of the system by the sum of the BOP, PCS, and power capacity costs, then add to it the product of the energy capacity of the system and the energy capacity cost, as shown in Equation 2.4. C cap = P max ( C BOP + C P CS + C pc ) + E max C ec (2.4) Then the OM costs can be determined by multiplying the OM fixed cost by the power capacity of the system to get an annual OM cost. Adjust this value future O&M costs based on the assumed discount rate over the lifetime of the device to determine the total lifetime OM cost. In this case, summing over the lifetime is equivalent to computing a partial geometric series, which leads to Equation 2.5. C tom = C OM P max [ 1 - (1 - r ) N 1 - (1 - r ) ] (2.5) Lastly, the total lifetime cost of the energy storage system is found by summing the capital cost and lifetime O&M cost together to get the total system cost, shown in Equation 2.6. C tot = C occ + C tom (2.6) Comments on Sources for Costs Five sources were drawn upon for the collection of cost parameters presented in this report [2,3,5–7], each of which had slightly different methodologies. The collection of parameters presented here is meant as a review of the most relevant studies involving the economic and technological parameters for energy storage systems today, and not as a definitive source in itself. However, care was taken to present the parameters from each source as accurately as possible. To that end, all costs are inflation adjusted to 2010 US dollars. 8
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Chapter 3 Energy Storage Technologies This report focuses on the technologies that have either already demonstrated their technological maturity and usefulness, or may be poised to do so in the near future. There are, in fact, a number of technologies that were deliberately not included included in this report due to their current round-trip inefficiency (at most 50-60% [7]), which include fuel cells, metal-air batteries, and thermal energy storage).
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