Performance Analysis of Analytical Tools in the Techno-Economic Assessment of Electrical Energy Storage and Grid Balancing
How to Cite?
Asif Nazar, Naqui Anwer, "Performance Analysis of Analytical Tools in the Techno-Economic Assessment of Electrical Energy Storage and Grid Balancing," International Journal of Engineering Trends and Technology, vol. 69, no. 7, pp. 150-158, 2021. Crossref, https://doi.org/10.14445/22315381/IJETT-V69I7P221
Energy Storage has a crucial role in ‘Grid Balancing’ with the integration of grid-connected Variable Energy Resources like Wind and Solar Photovoltaic. The selection of appropriate Energy Storage Technology depends on the grid location and the type of grid applications. So a comprehensive study for ‘Screening of Energy Storage Technology’ is needed. Further, only screening of technology without cost-benefit analysis will not serve the purpose. So it is necessary to select appropriate tools capable of ‘Screening of Technology’ and carrying economic analysis. Hence ES-SelectTM has been used for Screening Storage Technology, and Energy Storage Computational Tool (ESCT) has been used to assess economic and other benefits. The efficacy and limitations of these tools have been shown using a test case. The test case shows that appropriate storage technology can be identified using the ES-Select tool. ESCT tool identifies and quantifies the benefit of relevant grid applications for identified storage technology. Quantified monetary benefits comprise economic and environmental benefits. As per computational results, chosen storage technology has no payback under 15 years. A responsive Regulatory Framework and accommodative energy market that provides a level playing field can ensure economic viability for storage technology.
Energy Storage, Battery Storage, Grid Balancing, Smart Grid, ES-SelectTM, ESCT
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