Long-Duration Energy Storage—A Literature Review on the Link between Variable Renewable Energy Penetration and Market Creation

Andreij Selänniemi (), Magnus Hellström and Margareta Björklund-Sänkiaho
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Andreij Selänniemi: Faculty of Science and Engineering, Åbo Akademi University, Domkyrkotorget 3, 20500 Turku, Finland
Magnus Hellström: Faculty of Science and Engineering, Åbo Akademi University, Domkyrkotorget 3, 20500 Turku, Finland
Margareta Björklund-Sänkiaho: Faculty of Science and Engineering, Åbo Akademi University, Domkyrkotorget 3, 20500 Turku, Finland

Energies, 2024, vol. 17, issue 15, 1-30

Abstract: The relationship between a region’s dependency on variable renewable energy (VRE) and the viability of long-duration energy storage (LDES) technologies is recognised through various electricity grid modelling efforts in the contemporary literature. Numerous studies state a specific VRE penetration level in total electricity generation as an indicator of the emergence of an LDES market. However, there is considerable variability across studies when comparing VRE penetration levels in conjunction with LDES technology utilisation, and significant diversity exists in electricity grid modelling approaches. This review aims to highlight these inconsistencies by offering an overview of disparate findings and dissecting the influencing variables. Sixteen parameters are identified from reviewed studies, complemented by an additional five recognised through in-depth analysis. This comprehensive examination not only sheds light on critical aspects overlooked in previous reviews, requiring further investigation, but also provides novel insights into the complexity of this correlation, elevating the understanding of LDES market creation by unravelling the factors that influence the technology adoption across various contexts. Furthermore, it provides clarity in LDES research terminology by rectifying ambiguous language in the existing literature. Altogether, seven databases were explored to produce a trustworthy foundation for the study.

Keywords: long-duration energy storage (LDES); long-term energy storage; market emergence; literature review; variable renewable energy penetration (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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