Issue 8, 2018

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

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

Article information

Article type
Review Article
Submitted
19 Feb 2018
Accepted
01 May 2018
First published
04 Jun 2018
This article is Open Access
Creative Commons BY license

Energy Environ. Sci., 2018,11, 1926-1944

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

This article is licensed under a Creative Commons Attribution 3.0 Unported Licence. You can use material from this article in other publications without requesting further permissions from the RSC, provided that the correct acknowledgement is given.

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