KWH Cost Analysis of Energy Storage Power Station Based on Changing Trend of Battery Cost

Authors

  • Jie Huang Hunan Railway Professional Technology College, Zhuzhou Hunan 412001, China
  • Rong Nie Hunan Railway Professional Technology College, Zhuzhou Hunan 412001, China
  • Zhenyu Zhao North China Electric Power University School of Economics and Management, Beijing 102206, China
  • Yan Wang North China Electric Power University School of Economics and Management, Beijing 102206, China

DOI:

https://doi.org/10.13052/dgaej2156-3306.3933

Keywords:

battery cost, power storage technology, ESP station, KWH cost

Abstract

Energy storage plays a vital role in enhancing the resilience of the power grid. Utilizing typical capacity and power energy storage application scenarios, coupled with industry research data and technical analysis of energy storage, this study calculates the cost of energy storage per kilowatt-hour and the associated mileage cost. The findings indicate that the current cost per kilowatt-hour of electrochemical energy storage ranges from approximately 0.6 to 0.9 yuan/(kW⋅h), revealing a considerable gap between the target cost for widespread application and the range of 0.3 to 0.4 yuan/(kW⋅h). Therefore, the development of energy storage technologies (EST) should prioritize achieving “low cost, long life, high safety, and easy recycling,” taking into account a comprehensive assessment of system manufacturing, system lifespan, system safety, and recycling. This paper delves into the changing trend of battery costs and their impact on kilowatt-hours, presenting strategic suggestions to reduce the kilowatt-hour cost of ESP stations. The research underscores that a continuous reduction in battery costs will contribute to enhancing the economic benefits of ESP stations and provide robust support for the future development of the energy storage industry.

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Author Biographies

Jie Huang, Hunan Railway Professional Technology College, Zhuzhou Hunan 412001, China

Jie Huang, unit: Hunan Railway Professional Technology College, born in April 1985, gender: male, ethnic group: Han, native place: Longhui, Hunan, education: master’s degree, title: associate professor of university, main research directions: switch power supply technology, power electronics technology, new energy technology.

Rong Nie, Hunan Railway Professional Technology College, Zhuzhou Hunan 412001, China

Rong Niu, unit: Hunan Railway Professional Technology College, born in January 1986, gender: female, ethnic group: Han, native place: Changde, Hunan, education: master’s degree, title: associate professor of university, main research direction: new energy technology, measurement and control technology.

Zhenyu Zhao, North China Electric Power University School of Economics and Management, Beijing 102206, China

Zhenyu Zhao, Ph.D., Professor, Graduated from Beijing Jiaotong University, Worked in North China Electric Power University School of Economics and Management. He research interests include Clean energy power construction.

Yan Wang, North China Electric Power University School of Economics and Management, Beijing 102206, China

Yan Wang, Graduate, Graduated from North China Electric Power University. He research interests include Energy storage cost estimation.

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Published

2024-07-16

How to Cite

Huang, J., Nie, R., Zhao, Z., & Wang, Y. (2024). KWH Cost Analysis of Energy Storage Power Station Based on Changing Trend of Battery Cost. Distributed Generation &Amp; Alternative Energy Journal, 39(03), 441–460. https://doi.org/10.13052/dgaej2156-3306.3933

Issue

Section

Renewable Power & Energy Systems