Enabling Competing Energy Storage Technologies: Towards a Carbon-Neutral Power System

Aristides E. Kiprakis; Maximilian Parzen; Davide Fioriti

Abstract

Assessment of energy storage technologies at a macro-scale for grid integration, has often focused on singular technologies and neglected competition between them, thus leaving out of the optimization the decision of which energy storage to prioritize. We present a systematic deployment analysis method that enables system-value evaluation in perfect competitive markets and demonstrate its application to 20 different energy storage technologies across 40 distinct scenarios for a representative future power system in Africa. Our results demonstrate the significant benefits of optimizing energy storage with competition compared to without (+10% cost savings) and highlight the relevance of several energy storage technologies in various scenarios. This work provides insights into the role of multi-technology energy storage in carbon-neutral power systems and informs future research and policy decisions.

Original language	English
Number of pages	2
Publication status	Published - 22 Oct 2023
Event	The 1st International Conference on Carbon Neutrality - Shanghai, China Duration: 20 Oct 2023 → 22 Oct 2023 Conference number: 1 https://iccn-2023.sjtu.edu.cn/

Conference

Conference	The 1st International Conference on Carbon Neutrality
Abbreviated title	ICCN-2023
Country/Territory	China
City	Shanghai
Period	20/10/23 → 22/10/23
Internet address	https://iccn-2023.sjtu.edu.cn/

Keywords / Materials (for Non-textual outputs)

Energy modelling
Energy storage
Optimization
Technology evaluation
Variable renewable energy

Access to Document

Kiprakis - ICCN 2023 Extended AbstractAccepted author manuscript, 883 KBLicence: Creative Commons: Attribution (CC-BY)

3 Article

PyPSA-Earth. A new global open energy system optimization model demonstrated in Africa
Parzen, M., Abdel-Khalek, H., Fedotova, E., Mahmood, M., Frysztacki, M. M., Hampp, J., Franken, L., Schumm, L., Neumann, F., Poli, D., Kiprakis, A. & Fioriti, D., 1 Jul 2023, In: Applied Energy. 341, 121096.
Research output: Contribution to journal › Article › peer-review

Open Access
Reducing energy system model distortions from unintended storage cycling through variable costs
Parzen, M., Kittel, M., Friedrich, D. & Kiprakis, A. E., 20 Jan 2023, In: iScience. 26, 1, 19 p., 105729.
Research output: Contribution to journal › Article › peer-review

Open Access
File
Beyond cost reduction: Improving the value of energy storage in electricity systems.
Parzen, M., Neumann, F., van der Weijde, A. H., Friedrich, D. & Kiprakis, A. E., Dec 2022, In: Carbon Neutrality. 1, 1, 21 p., 26.
Research output: Contribution to journal › Article › peer-review

Open Access
File

Cite this

@conference{d4d24c53f94a47738c7f58b91ff0260e,

title = "Enabling Competing Energy Storage Technologies: Towards a Carbon-Neutral Power System",

abstract = "Assessment of energy storage technologies at a macro-scale for grid integration, has often focused on singular technologies and neglected competition between them, thus leaving out of the optimization the decision of which energy storage to prioritize. We present a systematic deployment analysis method that enables system-value evaluation in perfect competitive markets and demonstrate its application to 20 different energy storage technologies across 40 distinct scenarios for a representative future power system in Africa. Our results demonstrate the significant benefits of optimizing energy storage with competition compared to without (+10% cost savings) and highlight the relevance of several energy storage technologies in various scenarios. This work provides insights into the role of multi-technology energy storage in carbon-neutral power systems and informs future research and policy decisions.",

keywords = "Energy modelling, Energy storage, Optimization, Technology evaluation, Variable renewable energy",

author = "Kiprakis, {Aristides E.} and Maximilian Parzen and Davide Fioriti",

year = "2023",

month = oct,

day = "22",

language = "English",

note = "The 1st International Conference on Carbon Neutrality, ICCN-2023 ; Conference date: 20-10-2023 Through 22-10-2023",

url = "https://iccn-2023.sjtu.edu.cn/",

}

TY - CONF

T1 - Enabling Competing Energy Storage Technologies: Towards a Carbon-Neutral Power System

AU - Kiprakis, Aristides E.

AU - Parzen, Maximilian

AU - Fioriti, Davide

N1 - Conference code: 1

PY - 2023/10/22

Y1 - 2023/10/22

N2 - Assessment of energy storage technologies at a macro-scale for grid integration, has often focused on singular technologies and neglected competition between them, thus leaving out of the optimization the decision of which energy storage to prioritize. We present a systematic deployment analysis method that enables system-value evaluation in perfect competitive markets and demonstrate its application to 20 different energy storage technologies across 40 distinct scenarios for a representative future power system in Africa. Our results demonstrate the significant benefits of optimizing energy storage with competition compared to without (+10% cost savings) and highlight the relevance of several energy storage technologies in various scenarios. This work provides insights into the role of multi-technology energy storage in carbon-neutral power systems and informs future research and policy decisions.

AB - Assessment of energy storage technologies at a macro-scale for grid integration, has often focused on singular technologies and neglected competition between them, thus leaving out of the optimization the decision of which energy storage to prioritize. We present a systematic deployment analysis method that enables system-value evaluation in perfect competitive markets and demonstrate its application to 20 different energy storage technologies across 40 distinct scenarios for a representative future power system in Africa. Our results demonstrate the significant benefits of optimizing energy storage with competition compared to without (+10% cost savings) and highlight the relevance of several energy storage technologies in various scenarios. This work provides insights into the role of multi-technology energy storage in carbon-neutral power systems and informs future research and policy decisions.

KW - Energy modelling

KW - Energy storage

KW - Optimization

KW - Technology evaluation

KW - Variable renewable energy

M3 - Abstract

T2 - The 1st International Conference on Carbon Neutrality

Y2 - 20 October 2023 through 22 October 2023

ER -

Enabling Competing Energy Storage Technologies: Towards a Carbon-Neutral Power System

Abstract

Conference

Keywords / Materials (for Non-textual outputs)

Access to Document

Fingerprint

Research output

PyPSA-Earth. A new global open energy system optimization model demonstrated in Africa

Reducing energy system model distortions from unintended storage cycling through variable costs

Beyond cost reduction: Improving the value of energy storage in electricity systems.

Cite this