IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v16y2023i23p7894-d1293278.html
   My bibliography  Save this article

Techno-Economic Evaluation of a Compressed CO 2 Energy Storage System for Load Shifting Based on Dynamic Modelling

Author

Listed:
  • Bin Zhang

    (Shandong Electric Power Engineering Consulting Institute Co., Ltd., Jinan 250013, China)

  • Junbo Yang

    (Shandong Electric Power Engineering Consulting Institute Co., Ltd., Jinan 250013, China)

  • Sule Tian

    (Shandong Electric Power Engineering Consulting Institute Co., Ltd., Jinan 250013, China)

  • Qingxi Huang

    (Institute of Thermal Science and Technology, Shandong University, Jinan 250061, China)

  • Wei Wang

    (Institute of Thermal Science and Technology, Shandong University, Jinan 250061, China)

  • Qie Sun

    (Institute of Thermal Science and Technology, Shandong University, Jinan 250061, China)

  • Xiaohan Ren

    (Institute of Thermal Science and Technology, Shandong University, Jinan 250061, China)

Abstract

To reduce the electricity grid’s valley—peak difference, thereby resulting in a smoother electricity load, this study employs a compressed CO 2 energy storage system to facilitate load shifting. Load shifting by the CCES system not only enhances the energy flexibility of the electricity load but also creates energy arbitrage from variations in the electricity prices. An optimization model is developed to optimize the operation of the CCES system to minimize the standard deviation of the electricity load. Thereby, load shifting by the CCES system can be achieved. Based on the real electricity loads and prices, results indicate that, with an energy storage capacity of 267 MWh, the CCES system can provide 3845 MWh, 4052 MWh, and 3816 MWh of upward flexible energy and 3846 MWh, 3180 MWh, and 3735 MWh of downward flexible energy during a week in summer, winter, and the transition season, respectively. With a lifespan of 35 years, the CCES system can attain a net present value (NPV) of MUSD 239.9 and a payback time of 2 years. The sensitivity analysis shows that increasing the energy storage capacity of the CCES system augments both the upward and downward flexible energy of the electricity load but reduces the NPV of the CCES system.

Suggested Citation

  • Bin Zhang & Junbo Yang & Sule Tian & Qingxi Huang & Wei Wang & Qie Sun & Xiaohan Ren, 2023. "Techno-Economic Evaluation of a Compressed CO 2 Energy Storage System for Load Shifting Based on Dynamic Modelling," Energies, MDPI, vol. 16(23), pages 1-15, December.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:23:p:7894-:d:1293278
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/16/23/7894/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/16/23/7894/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Sciacovelli, A. & Vecchi, A. & Ding, Y., 2017. "Liquid air energy storage (LAES) with packed bed cold thermal storage – From component to system level performance through dynamic modelling," Applied Energy, Elsevier, vol. 190(C), pages 84-98.
    2. Luo, Xing & Wang, Jihong & Dooner, Mark & Clarke, Jonathan, 2015. "Overview of current development in electrical energy storage technologies and the application potential in power system operation," Applied Energy, Elsevier, vol. 137(C), pages 511-536.
    3. Huang, Qingxi & Feng, Biao & Liu, Shengchun & Ma, Cuiping & Li, Hailong & Sun, Qie, 2023. "Dynamic operating characteristics of a compressed CO2 energy storage system," Applied Energy, Elsevier, vol. 341(C).
    4. Liu, Jia & Chen, Haisheng & Xu, Yujie & Wang, Liang & Tan, Chunqing, 2014. "A solar energy storage and power generation system based on supercritical carbon dioxide," Renewable Energy, Elsevier, vol. 64(C), pages 43-51.
    5. Hao, Yinping & He, Qing & Du, Dongmei, 2020. "A trans-critical carbon dioxide energy storage system with heat pump to recover stored heat of compression," Renewable Energy, Elsevier, vol. 152(C), pages 1099-1108.
    6. Budt, Marcus & Wolf, Daniel & Span, Roland & Yan, Jinyue, 2016. "A review on compressed air energy storage: Basic principles, past milestones and recent developments," Applied Energy, Elsevier, vol. 170(C), pages 250-268.
    7. Parra, David & Norman, Stuart A. & Walker, Gavin S. & Gillott, Mark, 2016. "Optimum community energy storage system for demand load shifting," Applied Energy, Elsevier, vol. 174(C), pages 130-143.
    8. Wang, Wei & Sun, Bo & Li, Hailong & Sun, Qie & Wennersten, Ronald, 2020. "An improved min-max power dispatching method for integration of variable renewable energy," Applied Energy, Elsevier, vol. 276(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dewevre, Florent & Lacroix, Clément & Loubar, Khaled & Poncet, Sébastien, 2024. "Carbon dioxide energy storage systems: Current researches and perspectives," Renewable Energy, Elsevier, vol. 224(C).
    2. Fu, Hailun & He, Qing & Song, Jintao & Shi, Xinping & Hao, Yinping & Du, Dongmei & Liu, Wenyi, 2021. "Thermodynamic of a novel advanced adiabatic compressed air energy storage system with variable pressure ratio coupled organic rankine cycle," Energy, Elsevier, vol. 227(C).
    3. Zhang, Ziyu & Ding, Tao & Zhou, Quan & Sun, Yuge & Qu, Ming & Zeng, Ziyu & Ju, Yuntao & Li, Li & Wang, Kang & Chi, Fangde, 2021. "A review of technologies and applications on versatile energy storage systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 148(C).
    4. Liu, Zhan & Liu, Zihui & Xin, Xuan & Yang, Xiaohu, 2020. "Proposal and assessment of a novel carbon dioxide energy storage system with electrical thermal storage and ejector condensing cycle: Energy and exergy analysis," Applied Energy, Elsevier, vol. 269(C).
    5. Hamdy, Sarah & Morosuk, Tatiana & Tsatsaronis, George, 2019. "Exergoeconomic optimization of an adiabatic cryogenics-based energy storage system," Energy, Elsevier, vol. 183(C), pages 812-824.
    6. Frate, Guido Francesco & Ferrari, Lorenzo & Desideri, Umberto, 2021. "Energy storage for grid-scale applications: Technology review and economic feasibility analysis," Renewable Energy, Elsevier, vol. 163(C), pages 1754-1772.
    7. Hüttermann, Lars & Span, Roland, 2019. "Influence of the heat capacity of the storage material on the efficiency of thermal regenerators in liquid air energy storage systems," Energy, Elsevier, vol. 174(C), pages 236-245.
    8. Guo, Chaobin & Li, Cai & Zhang, Keni & Cai, Zuansi & Ma, Tianran & Maggi, Federico & Gan, Yixiang & El-Zein, Abbas & Pan, Zhejun & Shen, Luming, 2021. "The promise and challenges of utility-scale compressed air energy storage in aquifers," Applied Energy, Elsevier, vol. 286(C).
    9. Briola, Stefano & Di Marco, Paolo & Gabbrielli, Roberto & Riccardi, Juri, 2017. "Sensitivity analysis for the energy performance assessment of hybrid compressed air energy storage systems," Applied Energy, Elsevier, vol. 206(C), pages 1552-1563.
    10. 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).
    11. Chen, Long Xiang & Xie, Mei Na & Zhao, Pan Pan & Wang, Feng Xiang & Hu, Peng & Wang, Dong Xiang, 2018. "A novel isobaric adiabatic compressed air energy storage (IA-CAES) system on the base of volatile fluid," Applied Energy, Elsevier, vol. 210(C), pages 198-210.
    12. Cheayb, Mohamad & Marin Gallego, Mylène & Tazerout, Mohand & Poncet, Sébastien, 2022. "A techno-economic analysis of small-scale trigenerative compressed air energy storage system," Energy, Elsevier, vol. 239(PA).
    13. Dib, Ghady & Haberschill, Philippe & Rullière, Romuald & Revellin, Rémi, 2021. "Modelling small-scale trigenerative advanced adiabatic compressed air energy storage for building application," Energy, Elsevier, vol. 237(C).
    14. Guo, Cong & Xu, Yujie & Zhang, Xinjing & Guo, Huan & Zhou, Xuezhi & Liu, Chang & Qin, Wei & Li, Wen & Dou, Binlin & Chen, Haisheng, 2017. "Performance analysis of compressed air energy storage systems considering dynamic characteristics of compressed air storage," Energy, Elsevier, vol. 135(C), pages 876-888.
    15. Li, Chengchen & Wang, Huanran & He, Xin & Zhang, Yan, 2022. "Experimental and thermodynamic investigation on isothermal performance of large-scaled liquid piston," Energy, Elsevier, vol. 249(C).
    16. Meng, Hui & Wang, Meihong & Olumayegun, Olumide & Luo, Xiaobo & Liu, Xiaoyan, 2019. "Process design, operation and economic evaluation of compressed air energy storage (CAES) for wind power through modelling and simulation," Renewable Energy, Elsevier, vol. 136(C), pages 923-936.
    17. Ghorbani, Bahram & Salehi, Gholamreza & Ebrahimi, Armin & Taghavi, Masoud, 2021. "Energy, exergy and pinch analyses of a novel energy storage structure using post-combustion CO2 separation unit, dual pressure Linde-Hampson liquefaction system, two-stage organic Rankine cycle and ge," Energy, Elsevier, vol. 233(C).
    18. Llamas, Bernardo & Laín, Carlos & Castañeda, M. Cruz & Pous, Juan, 2018. "Mini-CAES as a reliable and novel approach to storing renewable energy in salt domes," Energy, Elsevier, vol. 144(C), pages 482-489.
    19. He, Yang & Chen, Haisheng & Xu, Yujie & Deng, Jianqiang, 2018. "Compression performance optimization considering variable charge pressure in an adiabatic compressed air energy storage system," Energy, Elsevier, vol. 165(PB), pages 349-359.
    20. King, Marcus & Jain, Anjali & Bhakar, Rohit & Mathur, Jyotirmay & Wang, Jihong, 2021. "Overview of current compressed air energy storage projects and analysis of the potential underground storage capacity in India and the UK," Renewable and Sustainable Energy Reviews, Elsevier, vol. 139(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:16:y:2023:i:23:p:7894-:d:1293278. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.