Energy storage technology is a crucial means of addressing the increasing demand for flexibility and renewable energy consumption capacity in power systems. This article evaluates the economic performance of China''s energy storage technology in the present and near future by analyzing technical and economic data using the levelized cost method.
Through a comparative analysis of different energy storage technologies in various time scale scenarios, we identify diverse economically viable options. Sensitivity analysis reveals the possible impact on economic performance under conditions of near-future technological progress.
When the storage duration is 1 day, thermal energy storage exhibits the best economic performance among all energy storage technologies, with a cost of <0.4 CNY/kWh. Even with increased storage durations, the economic performance of TES and CAES remains considerable. Fig. 8. Economic performance under the day-level energy storage scenario.
Specifically, we varied the cost reduction rate by 10 % to demonstrate the effect of different factors on the economic performance of these technologies. It''s crucial to note that this section evaluates the economic performance of energy storage technologies over diverse time scales.
Our solar power systems and energy storage products are engineered for reliability, safety, and efficient deployment. All systems include comprehensive monitoring and control systems with remote management capabilities.
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