Standalone and Hybridised Flywheels for Frequency Response Services: A Techno-Economic Feasibility Study

Andrew J. Hutchinson and Daniel T. Gladwin ()
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Andrew J. Hutchinson: Department of Electrical and Electronic Engineering, University of Sheffield, Western Bank, Sheffield S10 2TN, UK
Daniel T. Gladwin: Department of Electrical and Electronic Engineering, University of Sheffield, Western Bank, Sheffield S10 2TN, UK

Energies, 2024, vol. 17, issue 11, 1-23

Abstract: Frequency response services are one of the key components used by major electrical networks worldwide, acting to help control the frequency within set boundaries. Battery Energy Storage Systems (BESSs) are commonly deployed for this purpose; however, their potential is limited by susceptibility to cycle-based degradation and widely reported safety incidents. Flywheel Energy Storage Systems (FESSs) do not share these weaknesses and hence could be a potential candidate for longer-term participation in frequency response markets. This study presents the most in-depth and wide-ranging techno-economic analysis of the feasibility of FESSs for frequency response to date. Standalone FESSs are shown to be economically viable across a range of different specifications, achieving a positive Net Present Value (NPV) under varying economic conditions. At a capital cost of 500 GBP/kW with a discount rate of 4%, a 5C FESS can achieve an NPV of GBP 38,586 as a standalone unit. The complex trade-offs when considering hybridising FESSs and BESSs for this application are also investigated in-depth for the first time, again showing positive changes to NPV under various scenarios. Conversely, under some conditions, hybridisation can have a significant negative impact, showcasing the optimisation needed when considering hybrid systems. The impact of introducing a hybrid BESS varies from a low of decreasing the NPV of the system by GBP 97,955 to a high of increasing the NPV by GBP 119,621 depending on the configuration chosen. This comprehensive work provides the foundations for future research into FESS deployment for frequency response services and shows for the first time the circumstances under which deployment for this application would be both technically and economically viable.

Keywords: flywheels; batteries; frequency response; economic analysis; energy storage (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: 2024
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