DECEMBER 2022 Energy Storage Benefit-Cost Analysis
This report is intended to help state energy officials and program administrators conduct benefit-cost analysis of energy storage in a way that fully accounts for and fairly values its benefits as
The 2020 Cost and Performance Assessment provided installed costs for six energy storage technologies: lithium-ion (Li-ion) batteries, lead-acid batteries, vanadium redox flow batteries, pumped storage hydro, compressed-air energy storage, and hydrogen energy storage.
This increase underscores the persistent challenges in the market and the importance of cost analysis for energy storage in the renewable resource transition, as it aids in incorporating renewable sources into the network, thus bolstering decarbonization initiatives.
To forecast those cost and performance parameters out to the year 2025. To annualize the values derived so that the cost of each technology may be fairly compared given their varying life cycles. Along with CT, the following energy storage technologies are evaluated: Ultracapacitors.
This analysis identifies optimal storage technologies, quantifies costs, and develops strategies to maximize value from energy storage investments. Energy demand and generation profiles, including peak and off-peak periods.
PDF version includes complete article with source references. Suitable for printing and offline reading.
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