Review and Techno-Economic Analysis of Emerging Thermo-Mechanical Energy Storage Technologies

Khem Raj Gautam*, Gorm Bruun Andresen, Marta Victoria

*Corresponding author for this work

Research output: Contribution to journal/Conference contribution in journal/Contribution to newspaperReviewResearchpeer-review

Abstract

Thermo-mechanical energy storage can be a cost-effective solution to provide flexibility and balance highly renewable energy systems. Here, we present a concise review of emerging thermo-mechanical energy storage solutions focusing on their commercial development. Under a unified framework, we review technologies that have proven to work conceptually through project demonstration at a scale above 1 MW by describing the current state of commercial development, quantifying techno-economic parameters, outlining the challenges, and assessing each technology’s potential for commercial viability. The levelized cost of storage for thermo-mechanical energy storage at storage duration between 8 h and 1 week is cheaper than that of lithium-ion batteries and hydrogen storage; however, energy storage for such duration does not pay for itself at the current renewable penetration levels. For medium-term energy storage to be viable, at the realistic storage cost of 15 USD/kWh to 40 USD/kWh, the investment cost for power components should decrease to one-fifth of the current costs. Thermo-mechanical energy storage can be economically viable at the current investment costs in off-grid systems only when the marginal cost of alternative fuel exceeds 100 USD/MWh. We identified the cost ratio (charge power cost/discharge power cost) and the discharge efficiency as the critical technology-related performance parameters. Other external factors such as wind and solar fractions, demand, interconnections, sector coupling, and market structure play an important role in determining the economic feasibility of thermo-mechanical energy storage.

Original languageEnglish
Article number6328
JournalEnergies
Volume15
Issue17
Number of pages28
ISSN1996-1073
DOIs
Publication statusPublished - Sept 2022

Keywords

  • energy storage
  • market analysis
  • techno-economic optimization
  • thermo-mechanical

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