An Evaluation of Energy Storage Cost and Performance Characteristics

Kendall Mongird, Vilayanur Viswanathan, Patrick Balducci, Jan Alam, Vanshika Fotedar, Vladimir Koritarov and Boualem Hadjerioua
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Kendall Mongird: Pacific Northwest National Laboratory, Richland, WA 99352, USA
Vilayanur Viswanathan: Pacific Northwest National Laboratory, Richland, WA 99352, USA
Patrick Balducci: Pacific Northwest National Laboratory, Richland, WA 99352, USA
Jan Alam: Pacific Northwest National Laboratory, Richland, WA 99352, USA
Vanshika Fotedar: Pacific Northwest National Laboratory, Richland, WA 99352, USA
Vladimir Koritarov: Argonne National Laboratory, Lemont, IL 60439, USA
Boualem Hadjerioua: Oak Ridge National Laboratory, Oak Ridge, TN 37830, USA

Energies, 2020, vol. 13, issue 13, 1-53

Abstract: The energy storage industry has expanded globally as costs continue to fall and opportunities in consumer, transportation, and grid applications are defined. As the rapid evolution of the industry continues, it has become increasingly important to understand how varying technologies compare in terms of cost and performance. This paper defines and evaluates cost and performance parameters of six battery energy storage technologies (BESS)—lithium-ion batteries, lead-acid batteries, redox flow batteries, sodium-sulfur batteries, sodium-metal halide batteries, and zinc-hybrid cathode batteries—four non-BESS storage systems—pumped storage hydropower, flywheels, compressed air energy storage, and ultracapacitors—and combustion turbines. Cost and performance information was compiled based on an extensive literature review, conversations with vendors and stakeholders, and costs of systems procured at sites across the United States. Detailed cost and performance estimates are presented for 2018 and projected out to 2025. Annualized costs were also calculated for each technology.

Keywords: energy storage; energy economics; batteries; lithium-ion; pumped storage hydro; compressed air energy storage; flywheels; ultracapacitors; combustion turbines (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: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21)

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