A techno-economic survey of energy storage media for long-duration energy storage applications

Abstract

Summary: Energy storage technologies that can economically store and provide electricity over multi-day and seasonal timescales are likely to be a critical component of a sustainable and resilient energy system. In this analysis, we perform a broad survey of energy storage technologies to find storage media (SM) that are promising for these long-duration energy storage (LDES) applications. The energy capital cost of the SM is identified as a key figure of merit for LDES. We develop a data collection framework to collect material price and physical property data, which are used to calculate the energy capital cost floor for 376 SM. These costs are then compared with cost targets for the LDES applications. The results show a multitude of thermal and chemical SM are economically promising, including some synthetic fuels, sensible thermal, latent thermal, thermochemical, and batteries based on low-cost materials. In contrast, currently deployed energy storage systems such as lithium-ion batteries and pumped hydro storage do not appear to be promising systems for LDES applications.

Keywords

• long-duration electricity storage
• techno-economic analysis
• levelized cost of storage