Economic and financial appraisal of novel large-scale energy storage technologies

Energy storage can store surplus electricity generation and provide power system flexibility. A Generation Integrated Storage (GIES) is a class of energy that stores at some point along with the transformation between primary form electricity. The investigation economic financial merits novel systems GIES relevant as these technologies are in their infancy, there multiple technological, economic, uncertainties opportunities. This paper presents applies state-of-the-art model to compare economics for (with pumped-heat storage) non-GIES Lithium-ion battery) coupled wind United Kingdom. deterministic, risk, sensitivity analyses show that, GIES’s economics, key driver generator capital cost; non-GIES, cost most important factor. Monte Carlo analysis shows levelized values 0.05 £/kWh - 0.12 0.07 0.11 £/kWh, respectively, 100 MW MWh storage. internal rate return uncertain range 2%-22% 5%–14%, respectively.