Analysis of the Cost per Kilowatt Hour to Store Electricity

TLDR

The paper analyzes the cost per kilowatt hour of grid‑connected electric energy storage. The authors evaluate multiple storage technologies using a life‑cycle cost framework, expressing results as the dollar cost per kilowatt hour of stored and discharged electricity. The analysis shows how storage costs compare to wholesale and retail electricity prices and to conventional pumped‑hydro storage.

Abstract

This paper presents a cost analysis of grid-connected electric energy storage. Various energy storage technologies are considered in the analysis. Life-cycle cost analysis is used. The results are presented in terms of the cost added to electricity stored and discharged, in US dollar per kilowatt hour. Results are compared with wholesale and retail electricity costs and with the cost of conventional pumped hydro storage.