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Economic Analysis of the Investments in Battery Energy Storage Systems: Review and Current Perspectives

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  • Paulo Rotella Junior

    (Department of Production Engineering, Federal University of Paraiba, João Pessoa 58051-900, Brazil
    Faculty of Finance and Accounting, Prague University of Economics and Business, 130 67 Prague, Czech Republic)

  • Luiz Célio Souza Rocha

    (Department of Management, Federal Institute of Education, Science and Technology—North of Minas Gerais, Almenara 39900-000, Brazil)

  • Sandra Naomi Morioka

    (Department of Production Engineering, Federal University of Paraiba, João Pessoa 58051-900, Brazil)

  • Ivan Bolis

    (Department of Psychology, Federal University of Paraiba, João Pessoa 58051-900, Brazil)

  • Gianfranco Chicco

    (Dipartimento Energia “Galileo Ferraris”, Politecnico di Torino, 10129 Torino, Italy)

  • Andrea Mazza

    (Dipartimento Energia “Galileo Ferraris”, Politecnico di Torino, 10129 Torino, Italy)

  • Karel Janda

    (Faculty of Finance and Accounting, Prague University of Economics and Business, 130 67 Prague, Czech Republic
    Institute of Economic Studies, Faculty of Social Sciences, Charles University, 110 00 Prague, Czech Republic)

Abstract

Sources such as solar and wind energy are intermittent, and this is seen as a barrier to their wide utilization. The increasing grid integration of intermittent renewable energy sources generation significantly changes the scenario of distribution grid operations. Such operational challenges are minimized by the incorporation of the energy storage system, which plays an important role in improving the stability and the reliability of the grid. This study provides the review of the state-of-the-art in the literature on the economic analysis of battery energy storage systems. The paper makes evident the growing interest of batteries as energy storage systems to improve techno-economic viability of renewable energy systems; provides a comprehensive overview of key methodological possibilities for researchers interested in economic analysis of battery energy storage systems; indicates the need to use adequate economic indicators for investment decisions; and identifies key research topics of the analyzed literature: (i) photovoltaic systems with battery energy storage systems for residential areas, (ii) comparison between energy storage technologies, (iii) power quality improvement. The last key contribution is the proposed research agenda.

Suggested Citation

  • Paulo Rotella Junior & Luiz Célio Souza Rocha & Sandra Naomi Morioka & Ivan Bolis & Gianfranco Chicco & Andrea Mazza & Karel Janda, 2021. "Economic Analysis of the Investments in Battery Energy Storage Systems: Review and Current Perspectives," Energies, MDPI, vol. 14(9), pages 1-29, April.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:9:p:2503-:d:544549
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    References listed on IDEAS

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