Item Details

The Value of Energy Storage for Grid Applications

Paul Denholm [and four others]
Format
EBook; Book; Government Document; Online
Published
Golden, CO : National Renewable Energy Laboratory, 2013.
Language
English
Series
NREL/TP
SuDoc Number
E 9.16:NREL/TP-6 A 20-58465
Abstract
This analysis evaluates several operational benefits of electricity storage, including load-leveling, spinning contingency reserves, and regulation reserves. Storage devices were simulated in a utility system in the western United States, and the operational costs of generation was compared to the same system without the added storage. This operational value of storage was estimated for devices of various sizes, providing different services, and with several sensitivities to fuel price and other factors. Overall, the results followed previous analyses that demonstrate relatively low value for load-leveling but greater value for provision of reserve services. The value was estimated by taking the difference in operational costs between cases with and without energy storage and represents the operational cost savings from deploying storage by a traditional vertically integrated utility. The analysis also estimated the potential revenues derived from a merchant storage plant in a restructured market, based on marginal system prices. Due to suppression of on-/off-peak price differentials and incomplete capture of system benefits (such as the cost of power plant starts), the revenue obtained by storage in a market setting appears to be substantially less than the net benefit provided to the system. This demonstrates some of the additional challenges for storage deployed in restructured energy markets.
Description
1 online resource (vii, 37 pages) : color illustrations.
Notes
  • Title from title screen (viewed on Dec. 23, 2013).
  • "May 2013."
  • Includes bibliographical references (pages 35-37).
  • Includes bibliographical references.
Series Statement
NREL/TP ; 6A20-58465
Logo for Copyright Not EvaluatedCopyright Not Evaluated
Technical Details
  • Access in Virgo Classic

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    a| This analysis evaluates several operational benefits of electricity storage, including load-leveling, spinning contingency reserves, and regulation reserves. Storage devices were simulated in a utility system in the western United States, and the operational costs of generation was compared to the same system without the added storage. This operational value of storage was estimated for devices of various sizes, providing different services, and with several sensitivities to fuel price and other factors. Overall, the results followed previous analyses that demonstrate relatively low value for load-leveling but greater value for provision of reserve services. The value was estimated by taking the difference in operational costs between cases with and without energy storage and represents the operational cost savings from deploying storage by a traditional vertically integrated utility. The analysis also estimated the potential revenues derived from a merchant storage plant in a restructured market, based on marginal system prices. Due to suppression of on-/off-peak price differentials and incomplete capture of system benefits (such as the cost of power plant starts), the revenue obtained by storage in a market setting appears to be substantially less than the net benefit provided to the system. This demonstrates some of the additional challenges for storage deployed in restructured energy markets.
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    a| Energy storage x| Valuation z| United States.
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    a| Interconnected electric utility systems z| United States.
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    a| Electric utilities x| Rates z| United States.
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    a| Electric power distribution z| United States.
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    a| Energy storage equipment industry.
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