Energy Procedia · 2014 · 208 citations · 5 references
EngineeringEnvironmental EngineeringResource EconomicsEnergy EconomicsEnergy SystemsRenewable Energy SystemsEnergy StorageEnergy Storage IntegrationEnergy System ModelingPower Sector EconomicsRenewable EnergyRenewable Energy EconomicsEnergyEnergy Storage ModelingEnergy Storage System ModelingEnergy Storage TechnologiesLevelized Cost Of ElectricityLevelized Cost Of EnergyOff-grid Power SystemsRenewable Energy Storage
The paper introduces a new framework for calculating the levelized cost of stored energy. The framework adapts photovoltaic cost relations with additional parameters, enabling comparisons across storage technologies and calculation of LCOE for PV‑storage power plants. The model shows that the C rate dominates cost, round‑trip efficiency is less critical, and the combined LCOE of PV‑storage plants falls between the LCOE of PV alone and that of storage alone, facilitating rapid comparison with alternatives such as diesel.
This paper provides a new framework for the calculation of levelized cost of stored energy. The framework is based on the relations for photovoltaics amended by new parameters. Main outcomes are the high importance of the C rate and the less dominant role of the roundtrip efficiency. The framework allows for comparisons between different storage technologies. The newly developed framework model is applied to derive the LCOE for a PV and storage combined power plant. The derived model enables quick comparison of combined PV and storage power plants with other forms of energy generation, for example diesel generation. This could prove helpful in the current discussion about diesel substitution in off-grid applications. In general, the combined levelized cost of energy lies between the LCOE of PV and LCOE of storage.
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A novel business model for aggregating the values of electricity storage
Xian He, Erik Delarue, William D’haeseleer et al. · Energy Policy · 2011 · 125 citations · Full text