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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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Article information


Submitted
19 Feb 2018
Accepted
01 May 2018
First published
04 Jun 2018

This article is Open Access

Energy Environ. Sci., 2018,11, 1926-1944
Article type
Review Article

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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    [Original citation] - Published by The Royal Society of Chemistry.

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