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.

Downloads

Download data is not yet available.

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.

References

Zhong L, Zhang C, He Y, et al. A method for the estimation of the battery pack state of charge based on in-pack cells uniformity analysis[J]. Applied Energy, 2014, 113(1): 558–564.

Zakeri B, Syri S. Electrical energy storage systems: A comparative life cycle cost analysis[J]. Renewable and sustainable energy reviews, 2015, 42: 569–596.

Tan K M, Babu T S, Ramachandaramurthy V K, et al. Empowering smart grid: A comprehensive review of energy storage technology and application with renewable energy integration[J]. Journal of Energy Storage, 2021, 39: 102591.

Martinez-Bolanos J R, Udaeta M E M, Gimenes A L V, et al. Economic feasibility of battery energy storage systems for replacing peak power plants for commercial consumers under energy time of use tariffs[J]. Journal of Energy Storage, 2020, 29: 101373.

Keck F, Lenzen M, Vassallo A, et al. The impact of battery energy storage for renewable energy power grids in Australia[J]. Energy, 2019, 173: 647–657.

H.F. Gharibeh, A.S. Yazdankhah, M.R. Azizian. Energy management of fuel cell electric vehicles based on working condition identification of ESS, vehicle driving performance, and dynamic power factor, Journal of Energy Storage, vol. 31, Oct. 2020.

D. Li, A. Zouma, J.T. Liao, H.T. Yang. An energy management strategy with renewable energy and ESS for a large electric vehicle charging station, eTransportation, vol. 6, Nov. 2020.

R. Machlev, N. Zargari, N.R. Chowdhury, J. Belikov, Y. Levron. A review of optimal control methods for ESS – energy trading, energy balancing and electric vehicles, Journal of Energy Storage, vol. 32, Dec. 2020.

W. Wu, B. Lin, C. Xie, R.J.R. Elliott, J. Radcliffe. Does energy storage provide a profitable second life for electric vehicle batteries?, Energy Economics, vol. 92, Oct. 2020.

H.S. Salama, I. Vokony. Comparison of different electric vehicle integration approaches in presence of photovoltaic and superconducting magnetic ESS, Journal of Cleaner Production, vol. 260, Jul. 2020.

Kumari, S., Sreekumar, S., Singh, S., and Kothari, D. P. (2023). Wind Power Deviation Charge Reduction using Machine Learning. Distributed Generation &Amp; Alternative Energy Journal, 39(01), 27–56.

J. Liu, C. Zhong. An economic evaluation of the coordination between electric vehicle storage and distributed renewable energy, Energy, vol. 186, Nov. 2019.

J. Adamec, M. Danko, M. Taraba, P. Drgona. Analysis of selected energy storage for electric vehicle on the lithium based, Transportation Research Procedia, vol. 40, pp. 127–131, 2019.

N. Vukajlović, D. Milićević, B. Dumnić, B. Popadić. Comparative analysis of the supercapacitor influence on lithium battery cycle life in electric vehicle energy storage, Journal of Energy Storage, vol. 31, Oct. 2020.

M.A. Hannan, M.M. Hoque, A. Mohamed, A. Ayob. Review of ESS for electric vehicle applications: Issues and challenges, Renewable and Sustainable Energy Reviews, vol. 69, pp. 771–789, Mar. 2017.

I.S. Bayram, S. Galloway, G. Burt. A probabilistic capacity planning methodology for plug-in electric vehicle charging lots with on-site ESS, Journal of Energy Storage, vol. 32, Dec. 2020.

Wu, D., Su, J., Chen, Z., and Liu, H. (2023). Effects of Distributed Generation on Carbon Emission Reduction of Distribution Network. Distributed Generation & Alternative Energy Journal, 39(01), 57–82.

S.R. Salkuti, “Electrochemical batteries for smart grid applications”, International Journal of Electrical and Computer Engineering (IJECE), vol. 11, no. 3, pp. 1849–1856, Jun. 2021.

S.R. Salkuti, C.M. Jung, “Comparative analysis of storage techniques for a grid with renewable energy sources”, International Journal of Engineering & Technology, vol. 7, no. 3, pp. 970–976, 2018.

J. Jin, Y. Xu, Z. Yang. Optimal deadline scheduling for electric vehicle charging with energy storage and random supply, Automatica, vol. 11, Sept. 2020.

S.R. Salkuti, C.M. Jung, “Overview of Energy Storage Technologies: A Techno-Economic Comparison”, International Journal of Applied Engineering Research, vol. 12, no. 22, pp. 12872–12879, Nov. 2017.

S.R. Salkuti, “Comparative analysis of electrochemical energy storage technologies for smart grid”, TELKOMNIKA Telecommunication, Computing, Electronics and Control), vol. 18, no. 4, pp. 2118–2124, Aug. 2020.

T. Yi, X. Cheng, Y. Chen, J. Liu. Joint optimization of charging station and energy storage economic capacity based on the effect of alternative energy storage of electric vehicle, Energy, vol. 208, Oct. 2020.

L. Haupt, M. Schöpf, L. Wederhake, M. Weibelzahl. The influence of electric vehicle charging strategies on the sizing of electrical ESS in charging hub microgrids, Applied Energy, vol. 273, Sept. 2020.

S.R. Salkuti, “Large scale electricity storage technology options for smart grid”, International Journal of Engineering & Technology, vol. 7, no. 2, pp. 635–639, Apr. 2018.

S.R. Salkuti, “Energy Storage Technologies for Smart Grid: A Comprehensive Review”, Majlesi Journal of Electrical Engineering, Vol. 14, No. 1, pp. 39–48, Mar. 2020.

P. Chinnasa, W. Ponhan, W. Choawunklang. Modeling and simulation of a LaCoO3 Nanofibers/CNT electrode for supercapacitor application, Journal of Physics: Conference Series, pp. 1–5, 2019.

M L, S., R, V., Joseph P, R. B., Manivasagam, M. A., and Kishore, K. H. (2023). Optimizing Energy Consumption in Smart Grids Using Demand Response Techniques. Distributed Generation & Alternative Energy Journal, 39(01), 111–136.

M. Kroupa, G.J. Offer, J. Kosek. Modelling of Supercapacitors: Factors Influencing Performance, Journal of The Electrochemical Society, vol. 163, no. 10, pp. A2475–A2487, 2016.

H.J. Jabir, J. The, D. Ishak, H. Abunima. Impacts of Demand-Side Management on Electrical Power Systems: A Review, Energies, vol. 11, no. 5, 2018.

Downloads

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