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Title: Life cycle cost analysis of electricity storage facilities in flexible power systems
Authors: Nikolaidis, Pavlos 
Chatzis, Sotirios P. 
Poullikkas, Andreas 
Major Field of Science: Engineering and Technology
Field Category: Environmental Engineering
Keywords: EES facilities;Electricity storage;Flexible power networks;Life-cycle cost analysis;Power system operations
Issue Date: 14-Sep-2019
Source: International Journal of Sustainable Energy, vol. 38, no. 8, pp. 752-772
Volume: 38
Issue: 8
Start page: 752
End page: 772
Journal: International Journal of Sustainable Energy 
Abstract: Global efforts towards de-carbonization have opened the pathway for a test environment of electrical energy storage (EES) topology. In this work, the feasibility of 17 EES facilities applied to 24 individual applications of flexible power networks has been investigated in terms of levelized cost of storage (LCOS) in $/kW. Electricity storage facilities were modelled and evaluated via a life-cycle cost analysis, based on the most realistic EES characteristics and practical applications’ requirements. The results showed that pumped-hydro constitutes the least-cost and most reliable system for large-scale/long-duration applications. Zn-air and vanadium redox (VRB) offer great potential in demand-shifting and reactive support but, due to their wide LCOS range, considerable risk is added in such an investment. Electrochemical double-layer capacitor (EDLC) holds almost the exclusivity in fast-response/frequently-cycled applications, while for medium-term/medium-scale applications and where the large footprint is a prohibitive factor, valve-regulated Pb-acid (VRLA) and hydrogen fuel cells (H2-FC) are more favourable options. However, efficient tools still lack the ability of quantifying all benefits derived from electricity storage, maintaining stakeholders’ concerns for investment. It is apparent that, further research and development implies the decrease of the uncertainty governing the majority of EES technologies, increasing EES implementations and vice versa.
ISSN: 1478-646X
DOI: 10.1080/14786451.2019.1579815
Rights: © Taylor & Francis
Attribution-NonCommercial-NoDerivs 3.0 United States
Type: Article
Affiliation : Cyprus University of Technology 
Cyprus Energy Regulatory Authority 
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