Critical review and economic feasibility analysis of electric energy storage technologies suited for grid scale applications

Abstract

Radical changes in production paradigms are affecting electric systems. This is due to Renewable Energy Sources (RES) introduction, which changed production from being centralized and dispatchable, to be more decentralized and unpredictable. Further transformations are expected as the RES share into electric grids will increase. RES further development will likely rely mostly on additional solar PV capacity, then relevant energy quantities will be needed to be shifted from day hours to evening and night hours. Such "Load Shifting" could be performed with Electric Energy Storage (EES) technologies. Few technologies suited for this are already commercially available, whereas others have been proposed. In this paper, the EES technologies suited for load shifting are reviewed with a focus on economic costs. After that, current and future EES economic feasibility are assessed by using Italian hourly energy prices from 2018. Since EES resulted to be currently uneconomic, the minimum price modification required to make EES feasible is calculated.