Economic assessment for compressed air energy storage business model alternatives
Catarina R. Matos,
Patricia Silva () and
Júlio F. Carneiro
Applied Energy, 2023, vol. 329, issue C, No S0306261922015306
Abstract:
Compressed air energy storage (CAES) is a large-scale energy storage system with long-term capacity for utility applications. This study evaluates different business models' economic feasibility of CAES pre-selected reservoir case studies. It assesses several scenarios for each case study and analyzes two business models: one for the storage of excess renewable energy sources (RES) and another for energy arbitrage. The novelty of this work is performing the economic investment assessment using a Monte Carlo Simulation (MCS) methodology applied to CAES, considering the uncertainties associated with such types of projects and evaluating different business models for the technology.
Keywords: Compressed air energy storage; Economic analysis; Business models; Monte Carlo simulation (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:329:y:2023:i:c:s0306261922015306
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DOI: 10.1016/j.apenergy.2022.120273
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