Track: Modeling and Simulation

Abstract

Energy storage systems provide an important solution for improving the reliability of electricity networks due to challenges of integrating intermittent electricity from variable sources like wind and solar. Factors considered in the selection of storage batteries are cost and performance since. prices for every kWh injected into the network and battery energy storage system (BESS) costs vary. Energy storage systems play an important role in improving the reliability of electricity networks due to increasing contribution of electricity from intermittent sources like wind and solar. The main considerations in choosing a suitable storage system are cost and performance. Since the price for every kWh supplied to the network and battery energy storage system (BESS) costs are dynamic, consumers interested in   a battery may have challenges in choosing between the various batteries available in the market. This study presents a the Levelized cost of storage as a suitable method or approach for selecting the most suitable battery technology for household and industrial consumers. The future power plants are expected to have large proportions of intermittent energy sources like. wind, solar or tidal energy that require scale-up of energy storage to match the supply with hourly, daily and seasonal electricity demand profiles. Available storage technologies include batteries, pumped hydroelectricity storage, compressed air energy storage and power-to-Gas storage. The energy transition to renewable energy supply calls for increased application of energy storage. Identification of   optimal solutions requires a holistic view of the energy system beyond the electricity-only focus. In this study, an integrated cross-sector approach is adopted to identify the most efficient and least-cost storage options for off grid and grid scale application