Ranking Energy Storage Technologies with VIKOR

Abstract

Various energy storage technologies are currently available to address the problem of renewable energy intermittency. Due to wide selection of energy storage technologies with contrasting characteristics, strengths, and weaknesses, selection of the most appropriate technology for a specific type of application is a daunting task. In this study, the multiple attribute decision-making method VIKOR (Vlse Kriterijumska Optimizacija Kompromisno Resenje) is used as a systematic approach for ranking available energy storage technologies. The competing technologies are evaluated based on energy density, power rating, discharge time, cycle efficiency, lifetime, and specific cost. Data for these various criteria are based on reports in the literature and are processed using the VIKOR algorithm. This study demonstrates that the lithium-ion battery is the best technology for energy storage of renewable energy with assessment index, Q = 0.16; it is followed closely by the sodium-sulfur battery, with Q = 0.17. The result of this study shows that VIKOR can be used to select the best energy storage technology for power generation and guide decision-makers on the most suitable technology for enabling the transition to a zero-carbon energy systems.