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On the value of liquid-air and pumped-thermal electricity storage systems in low-carbon electricity systems

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  • Georgiou, Solomos
  • Aunedi, Marko
  • Strbac, Goran
  • Markides, Christos N.

Abstract

We consider two medium-to-large scale thermomechanical electricity storage technologies currently under development, namely ‘Liquid-Air Energy Storage’ (LAES) and ‘Pumped-Thermal Electricity Storage’ (PTES). Consistent thermodynamic models and costing methods based on a unified methodology for the two systems from previous work are presented and used with the objective of integrating the characteristics of the technologies into a whole-electricity system assessment model and assessing their system-level value in various scenarios for system decarbonization. It is found that the value of storage depends on the cumulative installed capacity of storage in the system, with storage technologies providing greater marginal benefits at low penetrations. Two carbon target scenarios showed similar results, with a positive effect of more ambitious carbon targets on the system value of storage. The location and installed capacity of storage plants is found to have a significant impact on the system value and acceptable costs of both technologies. The system value of PTES was found to be slightly higher than that of LAES, driven by a higher storage duration and efficiency, although these results must be seen in light of the uncertainty in the (as yet, not demonstrated) performance of key PTES components, namely the reciprocating-piston compressors and expanders. At the same time, PTES was also found to have a higher power capital cost, which makes its deployment less economically attractive for implementation at lower volumes. The results indicate that the complexity of the decarbonization challenge makes it difficult to identify clearly a ‘best’ technology and suggest that the uptake of either technology can provide significant system-level benefits.

Suggested Citation

  • Georgiou, Solomos & Aunedi, Marko & Strbac, Goran & Markides, Christos N., 2020. "On the value of liquid-air and pumped-thermal electricity storage systems in low-carbon electricity systems," Energy, Elsevier, vol. 193(C).
    • Handle: RePEc:eee:energy:v:193:y:2020:i:c:s0360544219323758
    DOI: 10.1016/j.energy.2019.116680
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    References listed on IDEAS

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    Cited by:

    1. Spyros Giannelos & Stefan Borozan & Marko Aunedi & Xi Zhang & Hossein Ameli & Danny Pudjianto & Ioannis Konstantelos & Goran Strbac, 2023. "Modelling Smart Grid Technologies in Optimisation Problems for Electricity Grids," Energies, MDPI, vol. 16(13), pages 1-15, June.
    2. Maximilian Parzen & Fabian Neumann & Addrian H. Van Der Weijde & Daniel Friedrich & Aristides Kiprakis, 2021. "Beyond cost reduction: Improving the value of energy storage in electricity systems," Papers 2101.10092, arXiv.org, revised Jul 2022.
    3. Jafari, Mehdi & Botterud, Audun & Sakti, Apurba, 2022. "Decarbonizing power systems: A critical review of the role of energy storage," Renewable and Sustainable Energy Reviews, Elsevier, vol. 158(C).
    4. Borri, Emiliano & Tafone, Alessio & Romagnoli, Alessandro & Comodi, Gabriele, 2021. "A review on liquid air energy storage: History, state of the art and recent developments," Renewable and Sustainable Energy Reviews, Elsevier, vol. 137(C).
    5. Yong, Qingqing & Jin, Kaiyuan & Li, Xiaobo & Yang, Ronggui, 2023. "Thermo-economic analysis for a novel grid-scale pumped thermal electricity storage system coupled with a coal-fired power plant," Energy, Elsevier, vol. 280(C).
    6. Aunedi, Marko & Yliruka, Maria & Dehghan, Shahab & Pantaleo, Antonio Marco & Shah, Nilay & Strbac, Goran, 2022. "Multi-model assessment of heat decarbonisation options in the UK using electricity and hydrogen," Renewable Energy, Elsevier, vol. 194(C), pages 1261-1276.
    7. O'Callaghan, O. & Donnellan, P., 2021. "Liquid air energy storage systems: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 146(C).

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