Please wait, while we are loading the content...
Please wait, while we are loading the content...
| Content Provider | The American Society of Mechanical Engineers (ASME) Digital Collection |
|---|---|
| Author | Berry, Irene Merfeld, Glen Riley, Patrick |
| Copyright Year | 2016 |
| Abstract | The success of grid scale energy storage hinges on our ability to solve real problems economically. By mapping energy storage physics to application economics, this paper offers a technology neutral look at how energy storage can solve real problems. A value analytics methodology was developed that combines the physics of energy storage, application power commands, and market-specific economic constructs. This approach evaluates and optimizes the value of energy storage for specific projects by providing insight into the tradeoffs between the lifecycle costs and revenues. These analytics calculate the net present value (NPV) and internal rate of return (IRR) of select energy storage assets, markets, and applications by considering these key factors: • Duty profiles and control strategies • Market economics and revenue streams • Asset performance at cell, module, and system levels • Price projections including balance of plant (BOP) • Cycle and calendar life • Project length and financing terms The value analytics methodology combines three model streams. The first takes a high fidelity load profile (for example, the power output of a building, wind turbine, or solar farm), imposes a specific control strategy, and calculates revenue streams in a selected market. From this first model stream a storage power command is generated. This power command is fed into the second model stream that calculates the required size and price of a given storage type. Finally, a third model stream uses empirical life models to calculate degradation rates, replacement intervals, and maintenance costs. These are rolled up into a project specific financial analysis that forecasts project NPV and IRR. The underlying engine for this methodology is a large performance and price database of over 100 commercial and emerging energy storage assets that spans a wide range of technologies from ultracapacitors and flywheels to lead acid and lithium-ion batteries. The physics based performance of each asset is captured as an equivalent circuit model. These models are exercised to create performance envelops that describe the rate dependent power capability as a function of the type, amount, and age of installed storage. The energy storage value analytics described in this paper can be used to test key sensitivities. This methodology has been applied to standalone energy storage systems as well as the combination of energy storage with renewables and distributed power generation. As shown, the methodology is relevant for an even wider range of applications. Several solution maps will be shared that reveal, by market segment, the energy storage type, amount, and application that create the greatest customer value. This type of informed design and dispatch will solve real problems, create new value streams, and open new markets for grid scale energy storage. |
| Sponsorship | Advanced Energy Systems Division Solar Energy Division |
| File Format | |
| ISBN | 9780791850237 |
| DOI | 10.1115/ES2016-59597 |
| Volume Number | Volume 2: ASME 2016 Energy Storage Forum |
| Conference Proceedings | ASME 2016 10th International Conference on Energy Sustainability collocated with the ASME 2016 Power Conference and the ASME 2016 14th International Conference on Fuel Cell Science, Engineering and Technology |
| Language | English |
| Publisher Date | 2016-06-26 |
| Publisher Place | Charlotte, North Carolina, USA |
| Access Restriction | Subscribed |
| Subject Keyword | Economics Cycles Economic analysis Life cycle costing Arches Circuits Distributed power generation Flywheels Maintenance Ultracapacitors Physics Engines Stress Design Hinges Lithium-ion batteries Renewable energy sources Storage Databases Tradeoffs Solar energy Wind turbines Energy storage |
| Content Type | Text |
| Resource Type | Article |
National Digital Library of India (NDLI) is a virtual repository of learning resources which is not just a repository with search/browse facilities but provides a host of services for the learner community. It is sponsored and mentored by Ministry of Education, Government of India, through its National Mission on Education through Information and Communication Technology (NMEICT). Filtered and federated searching is employed to facilitate focused searching so that learners can find the right resource with least effort and in minimum time. NDLI provides user group-specific services such as Examination Preparatory for School and College students and job aspirants. Services for Researchers and general learners are also provided. NDLI is designed to hold content of any language and provides interface support for 10 most widely used Indian languages. It is built to provide support for all academic levels including researchers and life-long learners, all disciplines, all popular forms of access devices and differently-abled learners. It is designed to enable people to learn and prepare from best practices from all over the world and to facilitate researchers to perform inter-linked exploration from multiple sources. It is developed, operated and maintained from Indian Institute of Technology Kharagpur.
Learn more about this project from here.
NDLI is a conglomeration of freely available or institutionally contributed or donated or publisher managed contents. Almost all these contents are hosted and accessed from respective sources. The responsibility for authenticity, relevance, completeness, accuracy, reliability and suitability of these contents rests with the respective organization and NDLI has no responsibility or liability for these. Every effort is made to keep the NDLI portal up and running smoothly unless there are some unavoidable technical issues.
Ministry of Education, through its National Mission on Education through Information and Communication Technology (NMEICT), has sponsored and funded the National Digital Library of India (NDLI) project.
| Sl. | Authority | Responsibilities | Communication Details |
|---|---|---|---|
| 1 | Ministry of Education (GoI), Department of Higher Education |
Sanctioning Authority | https://www.education.gov.in/ict-initiatives |
| 2 | Indian Institute of Technology Kharagpur | Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project | https://www.iitkgp.ac.in |
| 3 | National Digital Library of India Office, Indian Institute of Technology Kharagpur | The administrative and infrastructural headquarters of the project | Dr. B. Sutradhar bsutra@ndl.gov.in |
| 4 | Project PI / Joint PI | Principal Investigator and Joint Principal Investigators of the project |
Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon |
| 5 | Website/Portal (Helpdesk) | Queries regarding NDLI and its services | support@ndl.gov.in |
| 6 | Contents and Copyright Issues | Queries related to content curation and copyright issues | content@ndl.gov.in |
| 7 | National Digital Library of India Club (NDLI Club) | Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach | clubsupport@ndl.gov.in |
| 8 | Digital Preservation Centre (DPC) | Assistance with digitizing and archiving copyright-free printed books | dpc@ndl.gov.in |
| 9 | IDR Setup or Support | Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops | idr@ndl.gov.in |
|
Loading...
|