Cost estimation of mobile energy storage system
The 2020 Cost and Performance Assessment provided installed costs for six energy storage technologies: lithium-ion (Li-ion) batteries, lead-acid batteries, vanadium redox flow batteries, pumped storage hydro, compressed-air energy storage, and hydrogen energy storage.
The 2020 Cost and Performance Assessment provided installed costs for six energy storage technologies: lithium-ion (Li-ion) batteries, lead-acid batteries, vanadium redox flow batteries, pumped storage hydro, compressed-air energy storage, and hydrogen energy storage.
The dominant grid storage technology, PSH, has a projected cost estimate of $262/kWh for a 100 MW, 10-hour installed system. The most significant cost elements are the reservoir.
Calculate round-trip efficiency for each technology: Round-Trip Efficiency (%) = (Energy Discharged / Energy Charged) x 100. Calculate Lifecycle Costs: Use the formula: Lifecycle Cost ($/MWh) = (CapEx + (OpEx x Lifespan) + Replacement Costs) / Total Energy Stored (MWh) Model Financial Viability: Estimate revenue or cost savings from storage .
The 1 MW/2 MWh Nomad unit has a capital cost of $1,599,000, or ~$800/kWh [13]. In addition to investment costs, battery storage also incurs ongoing operation and maintenance costs. Compared to an ESS, a MESS will likely introduce a cost premium of 5–10% associated with the labor and fuel for transportation [6].
The 2022 Cost and Performance Assessment provides the levelized cost of storage (LCOS). The two metrics determine the average price that a unit of energy output would need to be sold at to cover all project costs inclusive of taxes, financing, operations and maintenance, and others.
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