Optimizing industrial compressed air energy storage performance: A novel exergoeconomic framework via pressure-temperature dependent cost analysis

Over the past two decades, the assessment of Compressed Air Energy Storage (CAES) systems has gained significant attention for global sustainability. While research on material selection based on site conditions exists, a comprehensive framework for comparative analysis and guidance is lacking. This study explores the interplay of multi-stage compression and expansion in CAES plants, focusing on how industrial temperature classifications influence production costs. Three advanced adiabatic CAES (AA-CAES) systems — Low, Medium, and High-Temperature CAES (LTA-CAES, MTA-CAES, HTA-CAES) — are scrutinized via exergoeconomic. The outcomes highlighted the exergetic cost for HTA-CAES at 0.081 $/kWh, while MTA-CAES and LTA-CAES demonstrate lower exergetic costs of production at 0.076 $/kWh and 0.075 $/kWh, respectively. This cost disparity is a direct consequence of employing high-temperature materials in TES construction. Further granularity is added through an exploration of TES materials, revealing a critical trade-off between exergetic costs and materials. Solid TES materials demonstrate cost advantages over liquid counterparts at specific charging pressures. Subsequently, a multi-objective optimization identifies the MTA-temperature as the most beneficial range for optimal CAES installation. • The main highlights are as follow: • What is the effect of plant's multi-staging on materials and therefore cost? • Industrial-based Temperature Classes: Material Challenges and Cost Trade-offs. • Liquid and Solid TES Material analysis Exposing a Critical Trade-offs in Exergetic Costs. • Optimizing Plant Installments: Balancing Technical Performance and Cost Viability. • Introducing comprehensive equations, addressing underground storage and its salvage cost.