Energy storage for grid-scale applications: Technology review and economic feasibility analysis

Guido Francesco Frate, Lorenzo Ferrari and Umberto Desideri

Renewable Energy, 2021, vol. 163, issue C, 1754-1772

Abstract: Non-dispatchable Renewable Energy Sources (RES) changed energy production from being centralised and fully dispatchable, to be more decentralised and less predictable. Despite the substantial growth, RES must be increased to fulfil the power production decarbonization targets set by several countries. In several countries, Italy included, RES development must be based on solar PV. Thus, relevant energy quantities will be shifted from day hours to night hours. Such “Load Shifting” is done with energy storage technologies. A few technologies suited for this task are already available, whereas several others have been proposed, but not tested in the practice. In this paper, such storage technologies are reviewed focusing on the performance and costs. Based on the review, current and future storage economic outlooks are assessed by focusing on the Italian scenario. In the paper, the storage operation is optimized at the hourly level to calculate the maximum achievable annual revenue. The optimisation is performed with a linear programming (LP) approach. Since none of the reviewed storage is economically feasible, the energy price modification required to achieve feasibility are estimated. Based on such results, the distance between the current situation and the one favourable to storage is assessed. In this way, the future outlook of each storage technology is discussed.

Keywords: Electric energy storage; Technology review; Economic feasibility; Italian energy market; Revenue optimisation; Storage optimal scheduling (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (25)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0960148120316360
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:163:y:2021:i:c:p:1754-1772

DOI: 10.1016/j.renene.2020.10.070

Access Statistics for this article

Renewable Energy is currently edited by Soteris A. Kalogirou and Paul Christodoulides

More articles in Renewable Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().