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Deployment pathways for long-duration energy storage.
Todd Levin1, W Neal Mann1, Jonghwan Kwon1
1Energy Systems and Infrastructure Assessment Division, Argonne National Laboratory, Lemont, IL, USA.
Low-cost long-duration energy storage (LDES) can significantly cut power system costs and generation investments. Optimal LDES deployment depends on the generation mix and requires accurate temporal modeling for accurate value assessment.
Area of Science:
- Energy Systems Analysis
- Power Grid Optimization
- Renewable Energy Integration
Background:
- The transition to renewable energy necessitates advanced energy storage solutions.
- Understanding the economic viability and optimal deployment of long-duration energy storage (LDES) is crucial for grid modernization.
Purpose of the Study:
- To assess the impact of varying generation portfolios and technology costs on optimal LDES investments in the continental US.
- To determine the cost thresholds for substantial LDES deployment and analyze the influence of system composition on storage duration investments.
Main Methods:
- Utilized a least-cost generation expansion model for the continental United States.
- Simulated 8,760 hours of chronological operations for the target year 2040 across 369 capacity expansion scenarios.
- Conducted regression analysis to identify correlations between LDES deployment and system generation characteristics.
Main Results:
- Substantial LDES deployment is observed when 24-hour storage costs reach $38/kWh and 100-hour storage costs reach $14/kWh.
- The optimal distribution of LDES investments across different durations is highly sensitive to the existing generation portfolio.
- Accurate, high-fidelity temporal representation in models is essential for capturing the true value of LDES.
Conclusions:
- Cost-effective LDES technologies offer significant potential to reduce overall system costs and generation investment requirements.
- LDES deployment is positively correlated with the share of wind and solar power and negatively correlated with peaking and baseload generation.
- Future grid expansion planning must incorporate detailed temporal dynamics to effectively leverage LDES benefits.
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