Evaluating the economics of energy storage systems
What is the value of energy storage in certain applications and how can it be quantified? How can the benefits and value of energy storage be translated into promising business cases? In the course of the Task EcoEneSto, a coordinated assessment of the economic viability of energy storage in all applications relevant to the energy system will be carried out. Different methodological approaches and all energy storage technologies (electrical, thermal, and chemical) will be considered. The basis is an inventory of economically interesting energy storage configurations and the derivation of preferred conditions (technical and non-technical) for energy storage operation.
The objectives of the proposed Task are:
- Collection of methods to evaluate the economic viability of energy storage systems for specific applications
- Definition of key performance indicators (KPIs) to evaluate the economics of energy storage
- Inventory of economically interesting energy storage configurations and deriving preferable conditions for energy storage operation in actual applications (technical and non-technical)
- Identification of difficult cases in which existing benefits of energy storage solutions cannot be transferred into possible business cases
- Comparison of energy storage configurations to solutions with other flexibility measures and to systems without energy storage
- Analysis of the influence of regulatory framework conditions on possible energy storage business cases by listing specific examples
- Establish a framework for the development of business cases for energy storage
The Task EcoEneSto is divided in four Subtasks:
Further information on Task EcoEneSto can be downloaded here.
The second experts meeting took place on May 10 – 12, 2023, in Linz, Austria, hosted by the The Energy Institute at Johannes Kepler University Linz.
The third expert meeting will be in Utrecht, The Netherlands, September 27 – 29, 2023, organized by TNO.