A Novel Analysis of Energy Density Considerations and Its Impacts on the Cost of Electrical Energy Storage (EES) Plants

Heidar Jafarizadeh, Madjid Soltani () and Jatin Nathwani
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Heidar Jafarizadeh: Department of Mechanical Engineering, K.N. Toosi University of Technology, Tehran 19967-15433, Iran
Madjid Soltani: Department of Mechanical Engineering, K.N. Toosi University of Technology, Tehran 19967-15433, Iran
Jatin Nathwani: Department of Management Sciences, Waterloo Institute for Sustainable Energy (WISE), University of Waterloo, Waterloo, ON N2L 3G1, Canada

Energies, 2023, vol. 16, issue 8, 1-19

Abstract: Geological restrictions and the low energy density of compressed air energy storage (CAES) plants constitute a technical and economic barrier to the enablement of variable and intermittent sustainable sources of energy production. Liquid air energy storage (LAES) and pumped thermal energy storage (PTES) systems offer a promising pathway for increasing the share of renewable energy in the supply mix. PTES remains under development while LAES suffers from low liquefaction unit efficiency, although it is at a higher technology readiness level (TRL) than PTES. The most significant element of large-scale EES is related to the discharge features of the power plants, especially the energy storage unit. Here, a novel multi-aspect equation, based on established codes and thermodynamic principles, is developed to quantify the required storage capacity to meet demand consistent with the design parameters and operational limitations of the system. An important conclusion of the application of the multi-aspect equation shows that liquid air storage systems instead of compressed air would reduce the space required for storage by 35 times. Finally, a cost equation was introduced as a function of the required storage volume. Calculations have demonstrated that the use of the novel cost equation, in lieu of the old one-aspect cost equation, for an LAES power plant with a production capacity of about 50 MW makes the costs of installing liquid air storage tanks against the total expenditure of the power plant about six times higher than what was reported in earlier research.

Keywords: LAES; CAES; cryogenic tank; techno-economic; heat leakage; dead zone (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: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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