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Issue 8, 2018
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Assigning value to energy storage systems at multiple points in an electrical grid

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Abstract

The ability to define the potential value that energy storage systems (ESSs) could generate through various applications in electric power systems, and an understanding of how these values change due to variations in ESS performance and parameters, market structure, utility structures, and valuation methodologies is highly important in advancing ESS deployment. This paper presents a taxonomy for assigning benefits to the use cases or services provided by ESSs, defines approaches for monetizing the value associated with these services, assigns values, or more precisely ranges of values, to major ESS applications by region based on a review of an extensive set of literature, and summarizes and evaluates the capabilities of several available tools currently used to estimate value for specific ESS deployments.

Graphical abstract: Assigning value to energy storage systems at multiple points in an electrical grid

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Publication details

The article was received on 19 Feb 2018, accepted on 01 May 2018 and first published on 04 Jun 2018


Article type: Review Article
DOI: 10.1039/C8EE00569A
Citation: Energy Environ. Sci., 2018,11, 1926-1944
  • Open access: Creative Commons BY license
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    Assigning value to energy storage systems at multiple points in an electrical grid

    P. J. Balducci, M. J. E. Alam, T. D. Hardy and D. Wu, Energy Environ. Sci., 2018, 11, 1926
    DOI: 10.1039/C8EE00569A

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