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Economic Analysis of the Investments in Battery Energy Storage Systems: Review and Current Perspectives

Authors :
Luiz Célio Souza Rocha
Ivan Bolis
Paulo Rotella Junior
Sandra Naomi Morioka
Gianfranco Chicco
Karel Janda
Andrea Mazza
Source :
Energies, Vol 14, Iss 2503, p 2503 (2021)
Publication Year :
2021
Publisher :
MDPI AG, 2021.

Abstract

Sources such as solar and wind energy are intermittent, and this is seen as a barrier to their wide utilization. The increasing grid integration of intermittent renewable energy sources generation significantly changes the scenario of distribution grid operations. Such operational challenges are minimized by the incorporation of the energy storage system, which plays an important role in improving the stability and the reliability of the grid. This study provides the review of the state-of-the-art in the literature on the economic analysis of battery energy storage systems. The paper makes evident the growing interest of batteries as energy storage systems to improve techno-economic viability of renewable energy systems; provides a comprehensive overview of key methodological possibilities for researchers interested in economic analysis of battery energy storage systems; indicates the need to use adequate economic indicators for investment decisions; and identifies key research topics of the analyzed literature: (i) photovoltaic systems with battery energy storage systems for residential areas, (ii) comparison between energy storage technologies, (iii) power quality improvement. The last key contribution is the proposed research agenda.

Subjects

Subjects :
Technology
Control and Optimization
Sources such as solar and wind energy are intermittent, and this is seen as a barrier to their wide utilization. The increasing grid integration of intermittent renewable energy sources generation significantly changes the scenario of distribution grid operations. Such operational challenges are minimized by the incorporation of the energy storage system, which plays an important role in improving the stability and the reliability of the grid. This study provides the review of the state-of-the-art in the literature on the economic analysis of battery energy storage systems. The paper makes evident the growing interest of batteries as energy storage systems to improve techno-economic viability of renewable energy systems
provides a comprehensive overview of key methodological possibilities for researchers interested in economic analysis of battery energy storage systems
indicates the need to use adequate economic indicators for investment decisions
and identifies key research topics of the analyzed literature: (i) photovoltaic systems with battery energy storage systems for residential areas, (ii) comparison between energy storage technologies, (iii) power quality improvement. The last key contribution is the proposed research agenda
Computer science
020209 energy
and identifies key research topics of the analyzed literature: (i) photovoltaic systems with battery energy storage systems for residential areas
Energy Engineering and Power Technology
02 engineering and technology
Sources such as solar and wind energy are intermittent
techno-economic analysis
Energy storage
Economic indicator
economic feasibility
0202 electrical engineering, electronic engineering, information engineering
Electrical and Electronic Engineering
Engineering (miscellaneous)
and this is seen as a barrier to their wide utilization. The increasing grid integration of intermittent renewable energy sources generation significantly changes the scenario of distribution grid operations. Such operational challenges are minimized by the incorporation of the energy storage system
Wind power
Renewable Energy, Sustainability and the Environment
business.industry
020208 electrical & electronic engineering
Photovoltaic system
Environmental economics
power quality
Grid
renewable energy
Renewable energy
which plays an important role in improving the stability and the reliability of the grid. This study provides the review of the state-of-the-art in the literature on the economic analysis of battery energy storage systems. The paper makes evident the growing interest of batteries as energy storage systems to improve techno-economic viability of renewable energy systems
Investment decisions
Key (cryptography)
(iii) power quality improvement. The last key contribution is the proposed research agenda
energy storage systems
business
Energy (miscellaneous)
(ii) comparison between energy storage technologies

Details

Language :
English
ISSN :
19961073
Volume :
14
Issue :
2503
Database :
OpenAIRE
Journal :
Energies
Accession number :
edsair.doi.dedup.....a04f1b6dbdb3a0a59f51bd2a044792e6