Economic Analysis of the Investments in Battery Energy Storage Systems: Review and Current Perspectives

Paulo Rotella Junior, Luiz Célio Souza Rocha, Sandra Naomi Morioka, Ivan Bolis, Gianfranco Chicco, Andrea Mazza and Karel Janda
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Luiz Célio Souza Rocha: Department of Management, Federal Institute of Education, Science and Technology—North of Minas Gerais, Almenara 39900-000, Brazil
Sandra Naomi Morioka: Department of Production Engineering, Federal University of Paraiba, João Pessoa 58051-900, Brazil
Ivan Bolis: Department of Psychology, Federal University of Paraiba, João Pessoa 58051-900, Brazil
Gianfranco Chicco: Dipartimento Energia “Galileo Ferraris”, Politecnico di Torino, 10129 Torino, Italy
Andrea Mazza: Dipartimento Energia “Galileo Ferraris”, Politecnico di Torino, 10129 Torino, Italy

Energies, 2021, vol. 14, issue 9, 1-29

Abstract: Sources such as solar and wind energy are intermittent, and this is seen as a barrier to their wide utilization. The increasing grid integration of intermittent renewable energy sources generation significantly changes the scenario of distribution grid operations. Such operational challenges are minimized by the incorporation of the energy storage system, which plays an important role in improving the stability and the reliability of the grid. This study provides the review of the state-of-the-art in the literature on the economic analysis of battery energy storage systems. The paper makes evident the growing interest of batteries as energy storage systems to improve techno-economic viability of renewable energy systems; provides a comprehensive overview of key methodological possibilities for researchers interested in economic analysis of battery energy storage systems; indicates the need to use adequate economic indicators for investment decisions; and identifies key research topics of the analyzed literature: (i) photovoltaic systems with battery energy storage systems for residential areas, (ii) comparison between energy storage technologies, (iii) power quality improvement. The last key contribution is the proposed research agenda.

Keywords: energy storage systems; economic feasibility; techno-economic analysis; power quality; renewable energy (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

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